On July 28, British American Tobacco PLC rose 3.12% in regular trading, trading at $62.45/share, with turnover of $137 million. The gain came amid a broad tobacco sector rally and rising expectations ahead of the company's earnings report scheduled for July 30.
The tobacco sector saw widespread strength, with Philip Morris up 5.76%, Altria up 4.76%, and Universal up 4.07%. British American Tobacco's upcoming earnings are drawing market attention, particularly regarding its new tobacco product segment. The company's previous half-year report showed new category revenue surging 50% year-over-year to GBP 940 million, with Vuse vapor products growing 59% and glo heated tobacco rising 38%. The company had also raised its full-year new category revenue growth forecast to approximately 15%, up from prior low-double-digit guidance.
Additionally, the FDA recently proposed regulations requiring foreign tobacco manufacturers to register and list products, a move seen as leveling the competitive playing field for established players. British American Tobacco is also executing a restructuring program targeting GBP 600 million in annual cost savings by 2028.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments