尽管前景谨慎,但BAT在2025年超过了利预期,受无烟产品增长和17亿美元回购的推动. BAT beat earnings estimates in 2025, boosted by smokeless product growth and a $1.7B buyback, despite cautious outlook.

英国美国烟草公司报告说,2025年的结果比预期的要强,调整后的人均收入为352p,营业利润增加了2.3%,其驱动因素是Velo Plus尼古丁袋等无烟产品的增长。 British American Tobacco reported stronger-than-expected 2025 results, with adjusted earnings per share of 352p and a 2.3% rise in operating profit, driven by growth in smokeless products like Velo Plus nicotine pouches. 新的类别现在占收入的18.2%,同比增加5.5%,反映出在实现2035年的无烟销售50%的目标方面取得的进展。 New categories now make up 18.2% of revenue, up 5.5% year-on-year, reflecting progress toward its 2035 goal of 50% smokeless sales. 该公司宣布了13亿英镑的股票回购,尽管预先指导是谨慎的。 The company announced a £1.3 billion share buyback, though forward guidance was cautious. 有利的加拿大诉讼解决办法提高了税前利润,而尽管长期增长,股票仍然受到压力。 A favorable Canadian litigation settlement boosted pre-tax profit, while the stock remains under pressure despite long-term growth.