UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
November
04, 2026
Commission
File Number 001-14978
SMITH & NEPHEW plc
(Registrant’s
name)
Building 5, Croxley Park, Hatters Lane
Watford, England, WD18 8YE
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F ✔
Form 40-F
__
Smith+Nephew Third Quarter 2026 Trading Update
Strong Sports Medicine momentum continues; full-year guidance
revised to reflect slower growth than expected in
Orthopaedics
4 November 2026
Smith+Nephew (LSE:SN, NYSE:SNN) trading update for the quarter
ended 26 September 2026.
Q3 Highlights
●
Q3
revenue of $1,551 million (Q3 2025: $1,501 million), representing
3.4% revenue growth on both an underlying and reported basis (Q3:
63 trading days, in line with Q3 2025):
o
Strong
Sports Medicine & ENT performance, including double-digit
growth in Sports Medicine Joint Repair
o
Improved
performance in Advanced Wound Management, led by acceleration in
Devices
o
Orthopaedics
returned to growth, despite soft market conditions and continued
weak performance in US Hips and Knees
o
Double-digit
growth in CATALYSTEM™, CONCELOC™, AETOS™,
CORI™, REGENETEN™, Q-FIX™, FASTSEAL™,
LEAF™ and PICO™
●
Cementless
LANDMARK™ Knee received 510(k) clearance, with first US
surgical cases completed
●
Completed
first cases using TESSA™ Spatial Surgery System for femoral
repair of the ACL, and submitted for regulatory approval for use in
tibial tunnel placement
Full year guidance updated
●
Revenue
growth now expected to be around 3% on an underlying basis,
reflecting our outlook for US Hips and Knees in the fourth quarter
and market conditions
●
Trading
profit growth now expected to be around 4%, with trading profit
around $1,250 million
●
Free
Cash Flow now expected to be around $750 million, with strong
trading cash conversion of around 95%
RISE strategy progress
●
Investing
in higher growth and margin Sports Medicine and Advanced Wound
Management businesses where we see a clear route to market
leadership
●
Continuing
to focus on improving Orthopaedics performance as we successfully
launch new products while we actively explore the full range of
options to deliver value for stakeholders
Share buyback
●
Previously
announced $500m share buyback on track, with $250 million completed
by the end of Q3, reflecting our continued strong cash flow and
balance sheet
Deepak Nath, Chief Executive Officer, said:
“Today, we reported Q3 underlying revenue growth of 3.4%, an
acceleration from Q2. We saw continued momentum in Sports Medicine
& ENT, including double-digit growth in Joint Repair, and
improved performance in Advanced Wound Management, led by
acceleration in Advanced Wound Devices. Orthopaedics returned to
growth, although US reconstruction remained under pressure in a
softer market.
“We continue to see the benefits of our investment in
innovation, with more than 50% of Q3 growth coming from products
launched in the last five years and many key products growing at
double-digit rates. US regulatory approvals for LANDMARK and TESSA
during the quarter represent important milestones, and early
customer feedback following first cases has been extremely
positive.
“We have revised our full-year guidance to reflect the slower
growth in US Orthopaedics, which we expect to continue through the
fourth quarter. Despite this, we remain confident in delivering
profit growth ahead of revenue growth, together with strong free
cash flow and cash conversion.
“We remain focused on improving performance, enhancing
operational efficiency and allocating capital to the highest-value
opportunities across our business, in line with the RISE strategy,
while continuing to consider all opportunities that could
accelerate value creation in the best interests of
shareholders.”
Delivering our RISE strategy
We continued to make progress delivering against our RISE strategy,
with important product milestones across the portfolio supporting
our pillars to REACH more patients and to INNOVATE and enhance the
standard of care.
In September we received 510(k) clearance from the US Food and Drug
Administration (FDA) and completed the first surgical case with the
cementless version of our new LANDMARK Total Knee System. LANDMARK
is a next-generation knee replacement solution designed to
replicate healthy knee anatomy and the knee’s natural motion
and support a more personalised approach to total knee
arthroplasty. LANDMARK was designed to leverage the full
capabilities of our robotics-assisted CORI Surgical
System.
We also achieved an important clinical milestone for our new TESSA
Spatial Surgery System, completing the first femoral cases, and
submitted an application to the FDA for regulatory clearance for
its use in tibial tunnel placement.
Other advances included the launches of the new EVOS™ Pelvic
Plating System, expanding the EVOS Plating Platform, the FLOW
FLEXTEND™ COBLATION™ Wand, which brings new
functionality for hard-to-reach hip, knee and shoulder, and the
LYNX™ COBLATION Laryngeal Wand in ENT. We also progressed the
international launches of the CARTIHEAL AGILI-C™ Cartilage
Repair Implant and ALLEVYN™ COMPLETE CARE
Dressing.
We continued to invest in next generation technology, with all
R&D programmes on track and an exciting pipeline for 2027.
These include CORI Hip, the first solution that provides robotic
execution on both sides of the hip, including handheld acetabular
reaming and a robotic femoral neck cut, particularly relevant to
the fast-growing Direct Anterior Approach, and the CORI Hip
Impactor which we expect to be the only tracked automated impactor
on the market.
During the quarter we announced a partnership with Imperial College
London to accelerate innovation in surgical robotics. This
five-year partnership is designed to deliver breakthrough research
and innovation for robotic surgery for musculoskeletal
conditions.
Update on our Orthopaedics business
The Board of Smith+Nephew is committed to delivering long-term
shareholder value and we are actively focused on improving
performance, driving sharper execution, enhancing operational
efficiency and optimising our portfolio composition.
We continue to prioritise investment behind our higher growth and
margin Sports Medicine and Advanced Wound Management businesses
where we have, through our RISE strategy, identified a clear path
to market leadership which will deliver significant
value.
Under the 12-Point Plan we have made considerable progress
strengthening our Orthopaedics business unit, including improving
product supply and portfolio simplification, which has resulted in
significant improvements in margins and returns on capital in the
business. We continue to focus on improving commercial performance
as recent product launches scale and additional products come to
market.
Given this strengthened position, the Board has for some months
been considering strategic options for our Orthopaedics business.
We note press comment as regards a possible combination between
Johnson & Johnson’s Depuy Synthes business and
Smith+Nephew. We confirm that, as part of that review of options,
we approached Johnson & Johnson earlier in the year, and
subsequently discussions did take place, but those
conversations have now ended. We will continue to actively
explore the full range of strategic options for the business as we
develop the best outcome for our shareholders, patients, customers
and colleagues.
Q3 performance - Sports Medicine & ENT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 September
|
|
27 September
|
|
Reported
|
|
Underlying
|
|
Acquisitions
|
|
Currency
|
|
|
Consolidated revenue by
|
|
2026
|
|
2025
|
|
growth
|
|
growth
|
|
/disposals
|
|
impact
|
|
|
business unit by product
|
|
$m
|
|
$m
|
|
%
|
|
%
|
|
%
|
|
%
|
|
|
Sports Medicine & ENT
|
|
507
|
|
469
|
|
8.0
|
|
7.9
|
|
-
|
|
0.1
|
|
|
Sports
Medicine Joint Repair
|
|
283
|
|
255
|
|
11.1
|
|
11.2
|
|
-
|
|
-0.1
|
|
|
Arthroscopic
Enabling Technologies
|
|
169
|
|
157
|
|
7.7
|
|
7.5
|
|
-
|
|
0.2
|
|
|
ENT
(Ear, Nose and Throat)
|
|
55
|
|
57
|
|
-4.8
|
|
-5.6
|
|
-
|
|
0.8
|
|
Sports Medicine & ENT continued to deliver a strong performance,
including double-digit growth in the US across all three segments.
The expected Volume Based Procurement (VBP) process in China has
not yet been implemented in either our Arthroscopic Enabling
Technologies or ENT segments and we continued to face a headwind
from inventory management into these
channels.
Sports Medicine Joint Repair has performed consistently well for multiple
quarters. The double-digit Q3 growth came from broad-based strength
across regions and the portfolio, including in shoulder, hip and
small joint repair. Key growth platforms such as REGENETEN,
CARTIHEAL and TENDON SEAM™ all continued to perform
well.
Arthroscopic Enabling Technologies growth was led by the WEREWOLF FASTSEAL™ 6.0
Hemostasis Wand and our services business.
ENT delivered double-digit
growth outside of China, led by good demand for our ARIS™
COBLATION Turbinate Reduction Wand and HALO™ Wand for
tonsillectomy and adenoidectomy.
Q3 performance - Advanced Wound Management
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 September
|
|
27 September
|
|
Reported
|
|
Underlying
|
|
Acquisitions
|
|
Currency
|
|
|
Consolidated revenue by
|
|
2026
|
|
2025
|
|
growth
|
|
growth
|
|
/disposals
|
|
impact
|
|
|
business unit by product
|
|
$m
|
|
$m
|
|
%
|
|
%
|
|
%
|
|
%
|
|
|
Advanced Wound Management
|
|
454
|
|
455
|
|
-
|
|
-0.2
|
|
-
|
|
0.2
|
|
|
Advanced
Wound Care
|
|
200
|
|
197
|
|
1.4
|
|
1.2
|
|
-
|
|
0.2
|
|
|
Advanced
Wound Bioactives
|
|
144
|
|
158
|
|
-8.7
|
|
-8.8
|
|
-
|
|
0.1
|
|
|
Advanced
Wound Devices
|
|
110
|
|
100
|
|
10.7
|
|
10.7
|
|
-
|
|
-
|
|
Advanced Wound Management sequential improvement reflected strong growth in
Advanced Wound Devices offset by continued headwinds in Advanced
Wound Bioactives.
Advanced Wound Care performance
was led by the recently launched ALLEVYN COMPLETE CARE, which is
delivering strong growth in the US. We have now launched ALLEVYN
COMPLETE CARE in our major international markets and expect this
product to continue to drive good growth in
foams.
Advanced Wound Bioactives performance continued to reflect the impact of
changes to reimbursement rules for skin substitutes which took
effect at the start of 2026. The market is adapting more slowly
than originally anticipated with the reimbursement reset driving a
decline in both volumes and pricing in non-surgical settings,
particularly in mobile where we have limited exposure. Despite
these near-term dynamics, we continue to believe in the long-term
fundamentals of the skin substitute segment beyond this transition
year, and remain well-positioned for when market conditions
normalise. SANTYL™ returned to modest growth following the
weak Q2, reflecting this product’s normal quarterly
volatility.
Advanced Wound Devices delivered double-digit growth driven by recent
investments behind our PICO Single-Use NPWT System and LEAF Patient
Monitoring System for pressure injury
prevention.
Q3 performance - Orthopaedics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 September
|
|
27 September
|
|
Reported
|
|
Underlying
|
|
Acquisitions
|
|
Currency
|
|
|
Consolidated revenue by
|
|
2026
|
|
2025
|
|
growth
|
|
growth
|
|
/disposals
|
|
impact
|
|
|
business unit by product
|
|
$m
|
|
$m
|
|
%
|
|
%
|
|
%
|
|
%
|
|
|
Orthopaedics
|
|
590
|
|
577
|
|
2.3
|
|
2.5
|
|
-
|
|
-0.2
|
|
|
Knee
Implants
|
|
229
|
|
235
|
|
-2.6
|
|
-2.0
|
|
-
|
|
-0.6
|
|
|
Hip
Implants
|
|
157
|
|
154
|
|
1.9
|
|
2.0
|
|
-
|
|
-0.1
|
|
|
Other
Reconstruction
|
|
41
|
|
29
|
|
43.8
|
|
44.7
|
|
-
|
|
-0.9
|
|
|
Trauma
& Extremities
|
|
163
|
|
159
|
|
2.3
|
|
1.8
|
|
-
|
|
0.5
|
|
Orthopaedics returned to growth
this quarter, with strength in International markets, including
Europe and Japan, and in Emerging Markets.
US Knee Implants revenue
declined -7.3% on both an underlying and reported basis, primarily
reflecting the ongoing impact of business lost in previous periods,
rather than new losses in the quarter, alongside market softness.
The market continues to shift towards cementless knees and we are
now at the early stages of launching the cementless version of our
new kinematic LANDMARK Knee System, which addresses this major
portfolio gap.
US Hip Implants revenue
declined -1.0% on both an underlying and reported basis, partially
reflecting some market softness. While strong uptake and
utilisation of CATALYSTEM continued, we were held back by the pace
of set deployment which limited our ability to convert and retain
legacy hip customers. We expect US Hip performance to improve as we
deploy additional CATALYSTEM sets and customer access expands. The
planned launch of CORI Hip in Q1 and CORI Hip Impactor in Q3 2027
will further strengthen our ability to convert and win business in
accounts that increasingly prefer robotic hip
workflows.
Outside the US, Knee Implants delivered
underlying revenue growth of 4.0% (reported growth 2.7%) driven by
our ANTHEM Knee System. Hip Implants delivered underlying
revenue growth of 6.0% (reported growth 5.7%) outside the US, led
by the POLAR3™ Total Hip System, good growth in Japan
following the recent launch of CATALYSTEM and double-digit growth
in the emerging markets.
Other Reconstruction delivered
strong growth in the quarter driven by sales of our
robotics-assisted CORI Surgical System, with the launch of CORI
Shoulder on CORI XT being well received.
Trauma & Extremities performance was solid with good growth in IM Nails
and double-digit growth from our AETOS Shoulder
System.
Q3 performance by region
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 September
|
|
27 September
|
|
Reported
|
|
Underlying
|
|
Acquisitions
|
|
Currency
|
|
|
Consolidated revenue by
|
|
2026
|
|
2025
|
|
growth
|
|
growth
|
|
/disposals
|
|
impact
|
|
|
geography
|
|
$m
|
|
$m
|
|
%
|
|
%
|
|
%
|
|
%
|
|
|
US
|
|
812
|
|
789
|
|
3.0
|
|
3.0
|
|
-
|
|
-
|
|
|
Other Established Markets(i)
|
|
456
|
|
447
|
|
2.0
|
|
3.2
|
|
-
|
|
-1.2
|
|
|
Total Established Markets
|
|
1,268
|
|
1,236
|
|
2.6
|
|
3.1
|
|
-
|
|
-0.5
|
|
|
Emerging
Markets
|
|
283
|
|
265
|
|
7.0
|
|
4.8
|
|
-
|
|
2.2
|
|
|
Total
|
|
1,551
|
|
1,501
|
|
3.4
|
|
3.4
|
|
-
|
|
-
|
|
i.
Other
Established Markets are Europe, Japan, Australia, Canada and New
Zealand
Geographically, all regions contributed to growth. Excluding China,
Group underlying revenue growth was 4.0% (reported growth ex China
3.9%). We continue to expect China to be broadly neutral to growth
for the full year.
Share buyback on track
On 6 May 2026, Smith+Nephew announced a share buyback of $500
million to be completed within twelve months. 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. The buyback is
on track with $250 million completed by the end of the third
quarter.
Full year guidance updated
The Group is updating its full year guidance to reflect our outlook
for US Hips and Knees in the fourth quarter and market
conditions.
As a result, we now expect to deliver:
●
Full
year underlying revenue growth of around 3% (previously
“around 4%”). On a reported basis, the guidance equates
to around 4.0% based on exchange rates prevailing on 30 October
2026.
●
As
a result of the lower revenue outlook, trading profit growth is now
expected to be around 4% (previously “around 8%”), with
around $1.25 billion of trading profit (previously “around
$1.3 billion”) including marginal dilution from the Integrity
acquisition
●
Free
cash flow is now expected to be around $750 million (previously
“around $800 million”), with strong trading cash
conversion of around 95%, in line with original
guidance
●
Adjusted
Return on Invested Capital (ROIC) is expected to be around 9%
(previously “more than 10%”). Adjusted ROIC excludes
the impact of Integrity Orthopaedics.
As previously disclosed, we expect the net year-on-year impact of
tariffs to be broadly neutral to trading profit, and the headwind
from skin substitutes to be towards the upper end of the previously
guided $20 to $40 million range. The acquisition of Integrity
Orthopaedics is expected to be marginally dilutive to trading
profit in 2026, broadly neutral in 2027 and accretive from 2028, as
previously guided.
Analyst conference call
An analyst conference call to discuss Smith+Nephew’s third
quarter results will be held at 12.00pm GMT / 7.00am EST on
Wednesday 4 November 2026, details of which can be found on the
Smith+Nephew website at https://www.smith-nephew.com/en/who-we-are/investors.
Forward calendar
Results for the fourth quarter and full year 2026 will be released
on 1 March 2027.
Investor contacts
|
Emily Heaven, Smith+Nephew
|
+44 (0) 7811 919437
|
|
Craig Bijou, Smith+Nephew
|
+1 (475) 850-8282
|
|
|
|
|
Media contacts
|
|
|
Charles Reynolds, Smith+Nephew
|
+44 (0) 1923 477314
|
|
Susan Gilchrist / Ayesha Bharmal, Brunswick
|
+44 (0) 20 7404 5959
|
Consolidated Revenue Analysis for Nine Months to 26 September
2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 September
|
|
27 September
|
|
Reported
|
|
Underlying
|
|
Acquisitions
|
|
Currency
|
|
|
|
|
2026
|
|
2025
|
|
growth
|
|
growth
|
|
/disposals
|
|
impact
|
|
|
Consolidated revenue by business unit by product
|
|
$m
|
|
$m
|
|
%
|
|
%
|
|
%
|
|
%
|
|
|
Sports Medicine & ENT
|
|
1,524
|
|
1,392
|
|
9.5
|
|
7.7
|
|
-
|
|
1.8
|
|
|
Sports
Medicine Joint Repair
|
|
858
|
|
764
|
|
12.2
|
|
10.6
|
|
-
|
|
1.6
|
|
|
Arthroscopic
Enabling Technologies
|
|
508
|
|
464
|
|
9.7
|
|
7.7
|
|
-
|
|
2.0
|
|
|
ENT
(Ear, Nose and Throat)
|
|
158
|
|
164
|
|
-4.0
|
|
-5.4
|
|
-
|
|
1.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advanced Wound Management
|
|
1,321
|
|
1,299
|
|
1.7
|
|
-0.1
|
|
-
|
|
1.8
|
|
|
Advanced
Wound Care
|
|
597
|
|
563
|
|
6.2
|
|
3.2
|
|
-
|
|
3.0
|
|
|
Advanced
Wound Bioactives
|
|
407
|
|
442
|
|
-8.0
|
|
-8.3
|
|
-
|
|
0.3
|
|
|
Advanced
Wound Devices
|
|
317
|
|
294
|
|
7.7
|
|
5.5
|
|
-
|
|
2.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Orthopaedics
|
|
1,803
|
|
1,770
|
|
1.9
|
|
0.7
|
|
-
|
|
1.2
|
|
|
Knee
Implants
|
|
720
|
|
736
|
|
-2.1
|
|
-3.1
|
|
-
|
|
1.0
|
|
|
Hip
Implants
|
|
483
|
|
467
|
|
3.5
|
|
2.2
|
|
-
|
|
1.3
|
|
|
Other
Reconstruction
|
|
109
|
|
93
|
|
17.2
|
|
15.8
|
|
-
|
|
1.4
|
|
|
Trauma
& Extremities
|
|
491
|
|
474
|
|
3.5
|
|
2.2
|
|
-
|
|
1.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
4,648
|
|
4,461
|
|
4.2
|
|
2.7
|
|
-
|
|
1.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated revenue by geography
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
2,404
|
|
2,375
|
|
1.2
|
|
1.2
|
|
-
|
|
-
|
|
|
Other Established Markets(i)
|
|
1,413
|
|
1,344
|
|
5.1
|
|
2.0
|
|
-
|
|
3.1
|
|
|
Total Established Markets
|
|
3,817
|
|
3,719
|
|
2.6
|
|
1.5
|
|
-
|
|
1.1
|
|
|
Emerging
Markets
|
|
831
|
|
742
|
|
12.0
|
|
8.5
|
|
-
|
|
3.5
|
|
|
Total
|
|
4,648
|
|
4,461
|
|
4.2
|
|
2.7
|
|
-
|
|
1.5
|
|
i.
Other Established Markets are Europe, Japan,
Australia, Canada and New Zealand
Reporting definitions
Unless otherwise specified as ‘reported’ all revenue
growth throughout this document is ‘underlying’ after
adjusting for the effects of currency translation and including the
comparative impact of acquisitions and excluding disposals. All
percentages compare to the equivalent 2025 period.
‘Underlying revenue growth’ reconciles to reported
revenue growth, the most directly comparable financial measure
calculated in accordance with IFRS, by making two adjustments, the
‘constant currency exchange effect’ and the
‘acquisitions and disposals effect’, described
below.
The ‘constant currency exchange effect’ is a measure of
the increase/decrease in revenue resulting from currency movements
on non-US Dollar sales and is measured as the difference between:
1) the increase/decrease in the current year revenue translated
into US Dollars at the current year average exchange rate and the
prior revenue translated at the prior year rate; and 2) the
increase/decrease being measured by translating current and prior
year revenues into US Dollars using the same exchange
rates.
The ‘acquisitions and disposals effect’ is the measure
of the impact on revenue from newly acquired material business
combinations and recent material business disposals. This is
calculated by comparing the current year, constant currency actual
revenue (which includes acquisitions and excludes disposals from
the relevant date of completion) with prior year, constant currency
actual revenue, adjusted to include the results of acquisitions and
exclude disposals for the commensurate period in the prior year.
These sales are separately tracked in the Group’s internal
reporting systems and are readily identifiable.
About Smith+Nephew
Smith+Nephew is a portfolio medical technology business focused on
the repair, regeneration and replacement of soft and hard tissue.
We exist to restore people’s bodies and their self-belief by
using technology to take the limits off living. We call this
purpose ‘Life Unlimited’. Our 17,000 employees deliver
this mission every day, making a difference to patients’
lives through the excellence of our product portfolio, and the
invention and application of new technologies across our three
global business units of Orthopaedics, Sports Medicine & ENT
and Advanced Wound Management.
Founded in Hull, UK, in 1856, we now operate in around 100
countries, and generated annual sales of $6.2 billion in 2025.
Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN).
The terms ‘Group’ and ‘Smith+Nephew’ are
used to refer to Smith & Nephew plc and its consolidated
subsidiaries, unless the context requires otherwise.
For more information about Smith+Nephew, please visit
www.smith-nephew.com and
follow us on X,
LinkedIn,
Instagram or Facebook.
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 change related
events; changes in customer and other stakeholder sustainability
expectations; changes in taxation regulations; effects of foreign
exchange volatility; and numerous other matters that affect us or
our markets, including those of a political, economic, business,
competitive or reputational nature. Please refer to the documents
that Smith+Nephew has filed with the U.S. Securities and Exchange
Commission under the U.S. Securities Exchange Act of 1934, as
amended, including Smith+Nephew's most recent annual report on Form
20-F, which is available on the SEC’s website at www.
sec.gov, for a discussion of certain of these factors. Any
forward-looking statement is based on information available to
Smith+Nephew as of the date of the statement. All written or oral
forward-looking statements attributable to Smith+Nephew are
qualified by this caution. Smith+Nephew does not undertake any
obligation to update or revise any forward-looking statement to
reflect any change in circumstances or in Smith+Nephew's
expectations.
The Smith+Nephew name, logo, and product and technology names
referenced in this report are trademarks of Smith+Nephew or its
affiliates. All third-party marks are
acknowledged.
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.
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Smith & Nephew plc
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(Registrant)
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Date:
November 04, 2026
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By:
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/s/
Helen Barraclough
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Helen
Barraclough
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Company
Secretary
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