Earnings ·
Smith+Nephew revises full-year guidance to reflect slower Orthopaedics growth
SNNSmith & Nephew PLC
Smith+Nephew reported Q3 underlying revenue of $1,551 million, up 3.4%, driven by strong Sports Medicine and improved Advanced Wound Management performance. The company updated its full-year outlook, lowering expected underlying revenue growth to around 3% from 4% and trading profit growth to around 4% from 8%, citing slower US Hips and Knees demand. Full-year trading profit is now guided at approximately $1.25 billion with free cash flow of $750 million. The firm also confirmed that $250 million of its $500 million share buyback program has been completed. Smith+Nephew operates in the medical technology industry, focusing on orthopaedics, sports medicine, and wound management.