Imperial Brands expects to meet its FY26 guidance across all key metrics, with tobacco net revenue projected to grow by a low single-digit percentage and next-generation product (NGP) net revenue by double digits. The company said it expects adjusted operating profit growth within its 3% to 5% guidance range, high-single-digit adjusted earnings per share growth, and more than £2.2 billion in free cash flow. Tobacco revenue growth is expected to be driven by pricing and market share gains in the U.S. and Germany, partially offset by low-single-digit volume declines.
Imperial said it expects share gains across heated tobacco, vaping, and modern oral products. The company also said it is on track to achieve at least £320 million in savings by 2030. Imperial completed its £1.45 billion FY26 share repurchase and announced a further £1.5 billion buyback for FY27, which it expects to complete by Oct. 29, 2027. The company will report full-year results for the year ended Sept. 30 on Nov. 17.
