Weak Earnings, Outlook Drag Shares of These 10 Firms on Thursday

8. British American Tobacco PLC (NYSE:BTI)

British American Tobacco sank by 7.32 percent on Thursday to end at $39.61 apiece as investors sold off positions following dismal earnings performance in 2024, coupled with continued expected headwinds for the rest of the year.

On Thursday, BTI announced a drop of 5.2 percent in revenues at £25.87 billion, primarily due to the sale of its business in Russia and Belarus in September 2023, coupled with translational foreign exchange headwinds. Meanwhile, analysts expected the company to clock in revenues worth £26.11 billion.

For this year, BTI expects significant regulatory and fiscal headwinds to persist, particularly in its combustibles performance in Bangladesh and Australia.

However, BTI CEO Tadeu Marroco said he is confident that the company will progressively build on its delivery as it shifts from investment to deployment.

“We remain committed to returning to our mid-term guidance of 3-5 percent revenue and 4-6 percent adjusted profit from operations growth on a constant currency in 2026,” he said.