Smith & Nephew lowered its full-year 2026 underlying revenue growth outlook to around 4% from previous expectations, citing softness in U.S. Orthopaedics and Advanced Wound Bioactives, while maintaining its trading profit, free cash flow, and return on invested capital guidance. Second-quarter underlying revenue grew 1.6%, with Sports Medicine & ENT up 8.6% but U.S. Orthopaedics down 1% and Advanced Wound Bioactives down 12.7%. Trading profit for the first half reached $566 million, supported by $128 million in efficiency savings and tariff refunds, and the company raised its full-year efficiency savings target to $200 million from $150 million. Adjusted earnings per share grew by 11% to $0.477. Management expects second-half revenue growth of 5% to 5.5%, driven by the launch of the LANDMARK knee system, stabilization in skin substitutes, and continued momentum in Sports Medicine.
Smith & Nephew PLCCompany lowers 2026 revenue outlook due to softness in U.S. Orthopaedics and Advanced Wound Bioactives, with Q2 underlying revenue growth only 1.6%.
