Smith & Nephew Q1 2024 Trading Update

TL;DR

SNN Q1 revenue hits $1.36B, growth across segments.

AI Summary

Smith & Nephew plc issued a trading update on May 1, 2024, for its first quarter of 2024. The company reported revenue of $1.36 billion for the period, showing growth across its key segments. This update provides investors with recent performance figures ahead of its annual reporting.

Why It Matters

This trading update provides investors with current financial performance data for Smith & Nephew, allowing for timely assessment of the company's trajectory in the orthopedic and surgical appliance market.

Risk Assessment

Risk Level: low — This filing is a routine trading update and does not contain significant new risks or material adverse information.

Key Numbers

• $1.36B — Q1 2024 Revenue (Indicates the company's top-line performance for the first three months of the year.)

Key Players & Entities

• Smith & Nephew plc (company) — Registrant and subject of the trading update
• May 1, 2024 (date) — Date of the trading update and filing
• $1.36 billion (dollar_amount) — First quarter 2024 revenue

FAQ

Key Financial Figures

• $1,386 million — rch 2024. Highlights 1,2 Q1 revenue $1,386 million (2023: $1,356 million), up 2.9% on an u
• $1,356 million — 1,2 Q1 revenue $1,386 million (2023: $1,356 million), up 2.9% on an underlying basis, and 2
• $5.5 billion — ountries, and generated annual sales of $5.5 billion in 2023. Smith+Nephew is a constituent

Filing Documents

• snn-20240501x6k.htm (6-K) — 210KB
• 0001558370-24-006312.txt ( ) — 211KB

Press release entitled " Smith+Nephew First Quarter 2024 Trading Update ", dated May 1, 2024

Item 1. Press release entitled " Smith+Nephew First Quarter 2024 Trading Update ", dated May 1, 2024.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Smith & Nephew plc (Registrant) Date: May 1, 2024 By: /s/ Helen Barraclough Helen Barraclough Company Secretary Smith+Nephew First Quarter 2024 Trading Update Solid start to 2024, reinforcing confidence in full year outlook 1 May 2024 Smith+Nephew (LSE:SN, NYSE:SNN) trading update for the first quarter ended 30 March 2024. Highlights 1,2 Q1 revenue $1,386 million (2023: $1,356 million), up 2.9% on an underlying basis, and 2.2% on a reported basis including a -70bps foreign exchange headwind o Growth in-line with expected 2024 phasing and included one less trading day year-on-year, representing approximately a 1.5 percentage point headwind in the quarter Orthopaedics revenue up 4.4% underlying o Good growth across Hip and Knee Implants outside the US, Other Reconstruction and Trauma & Extremities driven by 12-Point Plan improvements o Continued weakness in US Hip and Knee Implants against tough comparator period. Product supply has improved; new leadership driving sharper commercial execution Sports Medicine & ENT revenue up 5.5% underlying o Robust performance from Sports Medicine Joint Repair supported by prior-year product launches and expansion of REGENETEN o Continued headwind from China Advanced Wound Management revenue down -2.0% underlying o Sustained good growth from Advanced Wound Devices offset by Advanced Wound Bioactives decline due to expected SANTYL volatility following the strong Q4 2023 Full year 2024 guidance unchanged o Underlying revenue growth expected in the range of 5.0% to 6.0% (4.3% to 5.3% reported), and trading profit margin expected to be at least 18.0% o Continued cadence of product launches and clinical evidence contributing to growth Deepak Nath, Chief Executive Officer, said: "Revenue growth in

Forward-looking Statements

Forward-looking Statements This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading profit margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: conflicts in Europe and the Middle East, economic and financial conditions in the markets we serve, especially those affecting healthcare providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal and financial compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and disposals, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; relationships with healthcare professionals; reliance on information technology and cybersecurity; disruptions due to natural disasters, weather and climate chan

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View this 6-K filing on SEC EDGAR