Inferra AI / Company / SNN
Smith & Nephew Plc
SNN · Health Care
Last earnings Aug 14, 2026
Key results
Revenuequarter
$1,597 million
revenue was $1,597 million, with revenue growth of 2.8% including a 120bps FX tailwind and underlying 1 revenue growth of 1.6% Q2 performance driven by continued strength in Sports Medicine offset by softness in US Orthopaedics and Advanced Wound Bioactives Multiple product platforms delivering double-digit or higher g
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
revenue was $3,097 million, with growth of 4.6% after 230bps FX tailwind.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Underlying 1 revenue growth of 2.3%.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Growth reflected one fewer trading day versus the prior year, with underlying 1 revenue growth of 3.1% on an average daily sales 1 (ADS) basis Operating profit increased 4.3% to $448 million and operating profit margin was flat at 14.5%.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Free cash flowquarter
$13 million
H1 free cash flow 1 $13 million lower than H1 2025 includes a $51 million increase in capex relating largely to the construction of our new UK Wound factory and IT upgrades.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
2 Second quarter 2026 trading update Our second quarter revenue was $1,597 million (Q2 2025: $1,553 million), reflecting revenue growth of 2.8%, including 120bps tailwind from foreign exchange.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Unit revenuequarter
0.2%
Orthopaedics 27 June 28 June Underlying 1 Acquisitions Currency Consolidated revenue by 2026 2025 Growth Growth /disposals impact business unit by product $m $m % % % % Orthopaedics 614 615 (0.2) (1.0) - 0.8 Knee Implants 247 257 (3.8) (4.3) - 0.5 Hip Implants 165 162 1.4 0.5 - 0.9 Other Reconstruction 36 35 2.0 0.8 - 1.2 Trauma & Extremities 166 161 3.5 2.4 - 1.1 Our Orthopaedics business unit revenue declined - 0.2% (underlying 1 decline -1.0%) in the second quarter, reflecting a number of factors in the US including the ongoing issues in Knee Implants ahead of new product launches and temporary headwinds in Hips Implants.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
US Hip Implants revenuequarter
1.5%
Following four consecutive quarters of above market growth, US Hip Implants revenue declined -1.5%.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
AI analysis
Latest earnings event · reported Aug 14, 2026
Based on: Earnings release — transcript not held
The quarter in charts
Guidance ladder — revenue
Delivered vs the company's guided range
6-K · Aug 14, 2026 Guide as stated by the company; range and midpoint computed from the stated figure.
Headline figures
| Metric | Latest earnings event | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | $1,597 million | — | — |
| Free cash flow | $13 million | — | — |
| Unit revenue | 0.2% | — | — |
| US Hip Implants revenue | 1.5% | — | — |
Guidance · company-stated
Direction: Reiterated
“1 Anticipated growth in full year underlying 1 revenue reduced from around 6% to around 4%; trading profit 1 , free cash flow 1 and adjusted ROIC 1 guidance unchanged We expect second half underlying 1 revenue growth to be in the range of 5.”
“Given the updated revenue guidance, we expect revenue leverage to be lower, offset by the $50 million step-up in forecast efficiency savings .”
Classified from the release's primary full-year outlook statement.
Cash flow & capex
Capital allocation
This does not repeat in H2 when cash generation is expected to be stronger versus H2 2025 Building on our strong cash generation and balance sheet, a $500 million share buyback was announced in May, with $216 million settled as at 3 August Interim dividend increased by 4.0% to 15.6 per share 1 These non-IFRS financial measures are explained and reconciled to the most directly comparable financial measure prepared in accordance with IFRS on pages 30 36.
What changed vs last quarter
- Guide midpoint vs latest-quarter revenue -96.9% computed from stated figures
Event summary
Form 20-F Form 40-F __ This report on Form 6-K shall be deemed incorporated by reference into the company's Registration Statement on Form F-3 (File No
Based on: Earnings release — transcript not held
Guidance & outlook
Direction: Reiterated
Revenue: “1 Anticipated growth in full year underlying 1 revenue reduced from around 6% to around 4%; trading profit 1 , free cash flow 1 and adjusted ROIC 1 guidance unchanged We expect second half underlying 1 revenue growth to be in the range of 5.”
Revenue: “Given the updated revenue guidance, we expect revenue leverage to be lower, offset by the $50 million step-up in forecast efficiency savings .”
Revenue — Reiterated (“unchanged”)
“1 Anticipated growth in full year underlying 1 revenue reduced from around 6% to around 4%; trading profit 1 , free cash flow 1 and adjusted ROIC 1 guidance unchanged We expect second half underlying 1 revenue growth to be in the range of 5.”
Revenue — Lowered (“lower”)
“Given the updated revenue guidance, we expect revenue leverage to be lower, offset by the $50 million step-up in forecast efficiency savings .”
Classified from the release's primary full-year outlook statement.
Capital allocation
This does not repeat in H2 when cash generation is expected to be stronger versus H2 2025 Building on our strong cash generation and balance sheet, a $500 million share buyback was announced in May, with $216 million settled as at 3 August Interim dividend increased by 4.0% to 15.6 per share 1 These non-IFRS financial measures are explained and reconciled to the most directly comparable financial measure prepared in accordance with IFRS on pages 30 36.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Interim Dividend Smith+Nephew has a progressive dividend policy and we expect our shareholders to benefit from an annual payout of around 35% to 40% of EPSA 1 .
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Share buy-back on track On 6 May 2026, Smith+Nephew announced a share buyback of $500 million to be completed within twelve months.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
The buyback demonstrates our commitment to disciplined capital allocation, balancing investment in strategic growth with the return of surplus capital to shareholders, in line with our framework.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Dividends The 2025 final dividend totaling $ 205 m was paid on 27 May 2026.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
The 2026 interim dividend of 15.6 US cents per ordinary share was approved by the Board on 29 July 2026.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Strategy & priorities
We remain focused on capital allocation and opportunities to enhance shareholder returns.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Advanced Wound Devices performance included double-digit growth from the LEAF Patient Monitoring System, a key component of our pressure injury prevention strategy.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Orthopaedics segment trading profit margin 1 was up 30bps to 13.0% (H1 2025: 12.7%) as we were able to more than offset the headwind from inventory revaluation and softer revenue growth with manufacturing savings from network optimisation, ongoing productivity initiatives and disciplined cost control (see Note 2 to the Interim Financial Statements for global business unit segment trading profit).
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
6 Delivering our RISE strategy We are two quarters into the RISE strategy to accelerate growth and improve returns over the next three years, with progress across all four pillars.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
To REACH more patients, we are focused on driving adoption of our portfolio by expanding into additional indications and geographies.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Risks & headwinds
Strong trading profit 1 growth driven by a step-up in forecast efficiency savings, while tariff refunds fully offset the forecast tariff headwind Basic earnings per share ( EPS ) up 6.2% to 35.6 and adjusted earnings per share 1 ( EPSA ) up 11.0% to 47.7 Continued strong cash generation.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
While we had previously forecast a tariff headwind in the first half, the net impact of refunds received means the net impact of tariffs was broadly neutral to profit growth.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
With the benefit of tariff refunds, we now anticipate the net year-on-year impact of tariffs to be broadly neutral to trading profit 1 .
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Sports Medicine continued to perform strongly, but Orthopaedics was impacted by temporary headwinds in US Hip Implants and ongoing challenges in US Knee Implants ahead of new product introductions.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
The changes implemented through our 12-Point Plan have made the Group more resilient and better able to respond to such challenges.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Advanced Wound Management 27 June 28 June Underlying 1 Acquisitions Currency Consolidated revenue by 2026 2025 Growth growth /disposals impact business unit by product $m $m % % % % Advanced Wound Management 456 459 (0.7) (2.1) - 1.4 Advanced Wound Care 204 192 6.1 3.7 - 2.4 Advanced Wound Bioactives 144 165 (12.5) (12.7) - 0.2 Advanced Wound Devices 108 102 5.5 3.8 - 1.7 Advanced Wound Management performance reflected continued headwinds in Advanced Wound Bioactives and strong comparative periods in both Advanced Wound Bioactives and Advanced Wound Devices.
SEC original ↗Smith & Nephew Plc — Earnings release (6-K report)6-KAug 14, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
32 documents- Q3 2026
- 6-KSNN
- 6-KSNN
Oct 8, 2026
- 6-KSNN
- 6-KSNN
- Q2 2026
- 6-KSNN
Sep 18, 2026
- 6-KSNN
Sep 18, 2026
- 6-KSNN
Sep 16, 2026
- 6-KSNN
Sep 16, 2026
- 6-KSNN
Sep 11, 2026
- 6-KSNN
Sep 10, 2026
- 6-KSNN
Sep 10, 2026
- 6-KSNN
Sep 10, 2026
- EX-99SNN
Sep 10, 2026
- 6-KSNN
- 6-KSNN
- 6-KSNN
- 6-KSNN
- 6-KSNN
- 6-KSNN
Aug 21, 2026
- 6-KSNN
Aug 19, 2026
- 6-KSNN
Aug 18, 2026
- 6-KSNN
Aug 14, 2026
- 6-KSNN
Aug 12, 2026
- 6-KSNN
Aug 12, 2026
- 6-KSNN
- 6-KSNN
- 6-KSNN
- 6-KSNN
Jul 27, 2026
- 6-KSNN
Jul 23, 2026
- 6-KSNN
Jul 22, 2026
- 6-KSNN
Jul 21, 2026
- 6-KSNN
Earnings releases
0 documentsNo earnings releases for Smith & Nephew Plc are held in this edition of the library.
Presentations
0 documentsNo presentations for Smith & Nephew Plc are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Smith & Nephew Plc are held in this edition of the library.
See also the earnings calendar for every tracked company’s next earnings date.