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Smith+Nephew reported Q1 2026 revenue of $1,501 million, up 3.1% on an underlying basis and 6.6% reported, helped by a 350bps foreign-exchange tailwind. Growth was broad-based, led by Sports Medicine & ENT and Emerging Markets, while US Knee Implants declined as the company prepares for its new LANDMARK◊ Knee System.
The company announced a new $500 million share buyback to be completed within twelve months, funded from free cash flow and cash balances. Together with ordinary dividends, more than $835 million, or 6.3% of market cap, is expected to be returned to shareholders. Full-year 2026 guidance is unchanged, targeting around 6% underlying revenue growth, around 8% trading profit growth with trading profit around $1.3 billion including Integrity Orthopaedics, around $800 million free cash flow, and greater than 10% adjusted ROIC excluding Integrity Orthopaedics.
Smith+Nephew reported first quarter 2026 revenue of $1.50 billion, up from $1.41 billion, with underlying revenue growth of 3.1% and reported growth of 6.6%, in line with expectations. Sports Medicine & ENT grew strongly, with Sports Medicine & ENT revenue rising to $491 million, while Advanced Wound Management reached $411 million and Orthopaedics $599 million.
Growth was broad-based outside US knees, where deliberate portfolio and customer mix actions led to a decline ahead of the new LANDMARK Knee System. Emerging Markets revenue grew 10.5% on an underlying basis, led by China, and management expects China will no longer be a major headwind in 2026.
The company reaffirmed its 2026 outlook and expects trading profit of around $1.3 billion, including an estimated $60 million tariff impact and $20–40 million additional impact from the skin substitutes reimbursement reset. Smith+Nephew also announced a new $500 million share buyback to be completed within twelve months, funded by free cash flow and existing cash.
Cevian Capital II GP Limited filed Amendment No. 5 to its Schedule 13D, disclosing a significant stake in Smith & Nephew plc. The reporting person beneficially owns 91,462,095 ordinary shares, representing 10.71% of the outstanding ordinary shares based on 854,049,145 shares outstanding as of April 30, 2026.
Cevian has sole voting and sole dispositive power over all reported shares, held for the benefit of Cevian funds. The filing states that these shares were acquired for approximately USD $1,286,286,786, funded from the Cevian funds’ general working capital, with purchases made in British pounds using a USD/GBP rate of 1.36225.
Smith & Nephew plc reports its latest share capital and voting rights position. As at 30 April 2026, the company has 877,733,750 issued ordinary shares of US20¢ each, including 23,684,605 held in treasury. This leaves 854,049,145 ordinary shares with one vote each. Shareholders are directed to use 854,049,145 as the denominator when assessing whether they must notify their holdings or changes under the FCA’s Disclosure Guidance and Transparency Rules.
Smith+Nephew has scheduled an expert surgeon insights event for investors and analysts in London on 9 June 2026. The half‑day meeting will highlight key innovation platforms that management expects to drive the next phase of growth under the company’s RISE strategy.
Renowned US surgeons will discuss technologies including the REGENETEN◊ Bioinductive Implant, CARTIHEAL◊ AGILI-C◊ Cartilage Repair Implant, PICO◊ single use Negative Pressure Wound Therapy System, CORI Surgical System, AETOS◊ Shoulder System, LANDMARK◊ Knee System and the TESSA◊ Spatial Surgery System. The event will be hosted by the Chief Executive Officer, Chief Financial Officer and other senior leaders, with product demonstrations and Q&A sessions. Smith+Nephew notes it generated annual sales of $6.2 billion in 2025 and operates across Orthopaedics, Sports Medicine & ENT and Advanced Wound Management.
Smith+Nephew, a global medical technology company, has filed a report to confirm the timing of its first quarter 2026 trading update. The company will publish its trading report for the quarter ended 28 March 2026 on 6 May 2026 at 7:00am BST / 2:00am EDT, followed by an analyst conference call at 8:30am BST / 3:30am EDT.
Smith+Nephew focuses on the repair, regeneration and replacement of soft and hard tissue through three business units: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. It operates in more than 100 countries and generated $6.2 billion of annual sales in 2025.
Smith & Nephew plc reported that senior executives received new share awards under its RISE Share Plan. On 15 April 2026, the company granted awards over ordinary shares of US$0.20 each to multiple persons discharging managerial responsibilities, including the Chief Executive Officer and Chief Financial Officer, with each listed executive allocated 50 shares at nil cost. The awards form part of the company’s RISE strategy and were granted under the Smith & Nephew plc RISE Share Plan, a sub-plan of the Smith & Nephew plc Restricted Share Plan 2024.
Smith & Nephew plc filed a report noting that Thérèse Esperdy, its Senior Independent Director designate, will join the Board of Rentokil Initial plc as a Non-Executive Director and Chair-designate from 1 July 2026, becoming Chair of the Board on 1 September 2026. The company also highlights that it operates in more than 100 countries with $6.2 billion in annual sales in 2025, supported by around 17,000 employees across its orthopaedics, sports medicine & ENT, and advanced wound management businesses.
Smith & Nephew plc submitted an amended report to clarify how investors can access its 2025 Annual Report, 2026 AGM materials, and proposed new Articles of Association. The company confirms these documents are on the UK National Storage Mechanism and its website, and that hard copies are available free of charge to shareholders and ADS holders upon request to the Company Secretariat in Watford, England.
Smith & Nephew plc reports its updated share capital and voting rights position. As at 31 March 2026, the company has 877,733,750 ordinary shares of US20¢ each in issue, including 23,761,952 held in treasury. The issued share capital with voting rights consists of 853,971,798 ordinary shares, each carrying one vote. Shareholders are directed to use 853,971,798 as the denominator when assessing whether they must notify holdings or changes under the FCA’s Disclosure Guidance and Transparency Rules.