Quarterly ResultNov 4, 2026, 06:08 AM
Smith+Nephew Q3 Revenue +3.4% to $1.55B; Full-Year Guidance Lowered
AI Summary
Smith+Nephew reported Q3 revenue of $1,551 million, a 3.4% increase on an underlying basis, driven by strong Sports Medicine & ENT performance. However, the company revised its full-year guidance downwards, now expecting revenue growth of around 3% (previously 4%) and trading profit growth of around 4% (previously 8%), citing slower-than-expected growth in Orthopaedics, particularly in US Hips and Knees. The company also confirmed ongoing strategic reviews for its Orthopaedics business and that discussions with Johnson & Johnson have ended.
Key Highlights
- Smith+Nephew Q3 revenue $1,551 million, up 3.4% YoY on an underlying basis.
- Full-year revenue growth revised to ~3% (previously ~4%); trading profit to ~4% (previously ~8%).
- Sports Medicine & ENT revenue grew 7.9% underlying; Advanced Wound Management was flat (-0.2% underlying).
- Orthopaedics returned to growth with 2.5% underlying revenue increase, driven by international markets.
- US Knee Implants revenue declined 7.3% YoY; US Hip Implants declined 1.0% YoY.
- Share buyback on track with $250 million completed of the $500 million program.
- Free Cash Flow expected around $750 million; trading cash conversion around 95%.
Price Impact
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