BAT expects FY26 revenue and operating profit growth at low end of ranges
BTI•British American Tobacco kept its FY26 guidance, expecting revenue growth of 3%-5% and adjusted operating profit growth of 4%-6%, both at the low end. It expects adjusted diluted EPS growth toward the middle of its 5%-8% range.
1. FY26 outlook
BAT kept its FY26 guidance, targeting revenue growth of 3%-5% and adjusted operating profit growth of 4%-6% at constant rates, both at the low end of those ranges. Adjusted diluted EPS growth is expected toward the middle of the 5%-8% range, calculated on an adjusted-for-Canada basis. Spot rates imply a 2%-2.5% translational foreign exchange headwind to FY26 adjusted diluted EPS growth, based on USD/GBP 1.3245.
2. Longer-term targets
BAT projected leverage within its 2.0-2.5x target range by year-end, alongside continued cash returns to shareholders. Its Horizon 2030 outlook calls for mid-teens New Category revenue growth through 2030 and a contribution margin of at least 30% by 2030.
