The call highlighted strong revenue growth, profitability improvements, and successful execution of operational efficiencies, with significant progress in the U.S. Recon and Robotics segments. However, challenges remain in emerging markets, particularly China, and there are uncertainties related to tariffs and future reimbursement changes for skin substitutes.

Company Guidance

In the Smith & Nephew second quarter 2025 results meeting, CEO Deepak Nath highlighted the company's performance, featuring a 6.7% underlying revenue growth and a 100 basis point expansion in trading margin, slightly ahead of expectations. The company's Sports Medicine, Wound, and Orthopaedics units showed strong performances, with double-digit growth in Wound and sustained improvements in U.S. Recon and Robotics. Emerging markets, excluding China, grew by 12.2%. The trading cash flow rose by 70%, resulting in nearly $250 million of free cash flow in the first half. The company maintained its full-year margin guidance of 19% to 20%, anticipating a $15 million to $20 million impact from tariffs. Smith & Nephew also announced a $500 million share buyback, funded by 2025 cash flow and existing balances, without affecting its growth plans. The company remains committed to achieving market growth rates in U.S. Recon by the end of the year, leveraging innovation and improved commercial execution.

Strong Revenue Growth

Smith & Nephew reported a 6.7% underlying revenue growth in the quarter with a 7.8% reported growth due to a 110 basis point tailwind from foreign exchange.

Profitability and Margin Expansion

There was a 100 basis point expansion in trading margin in the first half, slightly ahead of expectations. The company is on track for a full-year margin guidance of 19% to 20%.

Free Cash Flow and Share Buyback

Free cash flow increased by 500% to $244 million in the first half, and a $500 million share buyback is planned for the second half of 2025, funded by cash flow and existing balances.

Advanced Wound Management Growth

Advanced Wound Management showed a 10.2% growth, driven by a strong rebound in Bioactives and double-digit growth in skin substitutes.

Operational Efficiency Improvements

A 70% increase in trading cash flow was realized, attributed to cost savings, inventory reduction, and restructuring charge reductions.

Orthopaedics Margin Expansion

Orthopaedics saw a 230 basis point margin expansion due to inventory reduction, portfolio simplification, and focus on higher volume accounts.

Strong Performance in U.S. Recon and Robotics

Fourth consecutive quarter of sequential improvement in U.S. Recon and Robotics, with U.S. Hips and Knees showing acceleration.

Smith & Nephew (GB:SN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

GB:SN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 24, 2026	2025 (Q4)	0.43 / -	0.347	―	―	―
Aug 05, 2025	2025 (Q2)	0.32 / 0.32	0.28	13.49% (+0.04)	―	―
Feb 25, 2025	2024 (Q4)	0.34 / 0.35	0.354	-2.09% (>-0.01)	―	―
Aug 01, 2024	2024 (Q2)	0.29 / 0.28	0.259	8.00% (+0.02)	―	―
Feb 27, 2024	2023 (Q4)	0.36 / 0.35	0.322	10.11% (+0.03)	―	―
Aug 03, 2023	2023 (Q2)	0.27 / 0.26	0.282	-8.14% (-0.02)	―	―
Feb 21, 2023	2022 (Q4)	0.27 / 0.32	0.296	8.75% (+0.03)	―	―
Jul 28, 2022	2022 (Q2)	0.28 / 0.28	0.287	-1.80% (>-0.01)	―	―
Feb 22, 2022	2021 (Q4)	0.32 / 0.30	0.379	-22.03% (-0.08)	―	―
Jul 29, 2021	2021 (Q2)	0.29 / 0.29	0.096	198.46% (+0.19)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GB:SN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	1154.00p	1331.00p	+15.34%
Feb 25, 2025	1026.92p	1089.90p	+6.13%
Aug 01, 2024	1094.50p	1168.57p	+6.77%
Feb 27, 2024	1077.50p	1066.49p	-1.02%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Smith & Nephew plc (GB:SN) report earnings?

Smith & Nephew plc (GB:SN) is schdueled to report earning on Feb 24, 2026, Before Open (Confirmed).

What is Smith & Nephew plc (GB:SN) earnings time?

Smith & Nephew plc (GB:SN) earnings time is at Feb 24, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is the P/E ratio of Smith & Nephew plc stock?

The P/E ratio of Smith & Nephew is N/A.

What is GB:SN EPS forecast?

GB:SN EPS forecast for the fiscal quarter 2025 (Q4) is 0.43.

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