The Alkaline Water Company Inc. (NASDAQ:WTER) dropped 7.5% on Friday after the company said it was postponing the fiscal 2021 earnings release call since it has yet to file the 10-K. As a result, regulation FD prevents The Alkaline Water Company from holding the call now. The company reported $46 million in revenue for the full fiscal year ended March 31, 2021.
Richard Wright, the company’s CEO, said that fiscal 2021 was another record year for the company in which it continued its streak of not having a flat year. He said that their employees rose to the occasion last year, and the company is seeing an acceleration of sales heading into fiscal 2022. In addition, the company had a strong performance during the pandemic, which allowed it to continue witnessing new-store and organic growth and expansion in more key channels.
Since 2015 the company has seen a CAGR of 52% in revenue, and for fiscal 2022, the company expects 35% YoY growth in revenue to $62 million. So, in the coming months, WTER is a stock to watch.
Market Reaction:
On Friday, WTER stock went down 7.60% at $1.46 with more than 1.72 million shares, compared to its average volume of 1.26 million shares. The stock has moved within a range of $1.4500 – 1.5309 after opening the trade at $1.51. Over the past 52-week, the stock has been trading within a range of $0.9300 – 2.6000.
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