British American Tobacco (BTI) said Thursday that preliminary data show adjusted earnings fell to 362.5 pence ($4.51) from 375.6 pence during the year that ended Dec. 31.

Analysts polled by FactSet expected 364.37 pence.

Adjusted EPS at constant exchange rates rose 1.7% year-over-year to 381.9 pence.

Preliminary revenue dropped by 5.2% to 25.87 billion pounds from 27.28 billion pounds.

Analysts polled by FactSet expected 26.21 billion pounds.

The preliminary reported profit from operations of 2.74 billion pounds in 2024 included a provision of 6.2 billion pounds ($7.72 billion) related to a proposed settlement in Canada, the company said.

The company, maker of Lucky Strike and Dunhill cigarettes, and some of its rivals were set to pay 32.5 billion Canadian dollars ($22.73 billion) to settle a lawsuit in Canada, but, some parties, including Philip Morris International's Canadian affiliate, have since objected to the proposal, Reuters reported Thursday.

British American Tobacco "remains committed" to returning to its mid-term growth guidance of 3% to 5% in revenue and 4% to 6% in adjusted profit from operations on a constant currency in 2026, Chief Executive Tadeu Marroco said.

The company said it is committed to growing dividends in British pound sterling terms and a 900-million pound share buyback planned in 2025.

Shares of British American Tobacco trading on the NYSE slumped 8% in premarket activity Thursday.