Earnings ·
Smith+Nephew revises full-year guidance to ~3% revenue growth and $1.25B trading profit
SNNSmith & Nephew PLC
Smith+Nephew reported Q3 underlying revenue of $1,551 million, up 3.4%, driven by double-digit growth in Sports Medicine Joint Repair and improved Advanced Wound Management performance. Orthopaedics returned to growth despite continued weakness in US Hips and Knees. The company revised full-year guidance downward, now expecting around 3% underlying revenue growth (previously ~4%) and trading profit of approximately $1.25 billion (previously ~$1.3 billion), citing slower-than-expected growth in the Orthopaedics segment. Free cash flow is expected to be around $750 million. The company also confirmed that discussions with Johnson & Johnson regarding its Orthopaedics business have ended, though it continues to explore strategic options for the unit.