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Smith & Nephew Snats (SNN)
NYSE:SNN
Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.99Last Year’s EPS
0.86Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong execution and momentum: double-digit improvement in key profitability and cash metrics for FY2025 (margin expansion, $840M free cash flow, adjusted EPS +21%), broad-based revenue growth across business units, record adoption of CORI robotics, and clear cost-savings progress. Management provided constructive FY2026 guidance (~6% organic revenue growth, ~8% trading profit growth) and a disciplined capital allocation approach including targeted M&A (Integrity) aligned with strategy. Offsetting these positives are significant, but largely manageable, near-term headwinds: China VBP effects (now smaller on top line but still weighing on profit), CMS skin-substitute reimbursement changes (material near-term pressure on that subcategory), tariff and reimbursement impacts, and a one-off $159M portfolio rationalization charge. Overall the positives (growth, margin expansion, cash generation, innovation pipeline and cost savings) materially outweigh the near-term challenges and one-off charges, with a credible plan to offset headwinds and deliver further improvement over the medium term.Company Guidance
Full-Year Revenue Growth
FY2025 revenue of $6.2B, up 5.3% underlying (6.1% reported), ahead of guidance; 2022–2025 revenue CAGR of 5.7%.
Strong Q4 Performance
Q4 revenue of $1.7B, up 6.2% underlying and 8.3% reported (210 bps FX tailwind); average daily sales growth of 4.5% and broad-based regional growth (U.S. +5.6%, other established +7.2%, emerging +6.4%).
Margin Expansion and Trading Profit
Trading profit rose to $1.2B for the year (+$162M year-on-year) and trading margin expanded 160 basis points to 19.7% in FY2025 (gross margin 70.9%, +60 bps).
Cash Generation and Returns
Free cash flow of $840M, up 52.5% year-on-year and well ahead of initial guidance (> $600M); net debt $2.76B with leverage ~1.7x adjusted net debt/EBITDA; ROIC improved to 8.3% (9.9% excluding portfolio rationalization).
Operational Progress and Cost Savings
Cumulative efficiency savings of $280M achieved to end-2025 against a $325–375M by-2027 target; 160 bps FY25 margin expansion driven by enterprise-wide cost savings, manufacturing optimization, productivity and portfolio rationalization; group days sales inventory reduced materially (group DSI down 21 days excl. rationalization, 51 days incl.).
Innovation-led Growth
Over 60% of 2025 growth came from products launched in the last five years; 44 product launches over the last 3 years and guidance to launch 16 products in 2026; record CORI placements globally with 45% of CORI placements in ASCs and CORI-associated accounts showing Knee growth ~850 bps higher.
Portfolio and Capital Actions
Completed $500M share buyback in H2 2025; adjusted EPS grew 21% to $1.02 (benefitting from buyback); full-year dividend proposed +4.3% to $0.391; announced acquisition of Integrity Orthopaedics (up to $450M) to strengthen shoulder/rotator cuff franchise.
SNN Earnings History
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
SNN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 02, 2026 | $36.90 | $35.76 | -3.09% |
Aug 05, 2025 | $30.55 | $35.20 | +15.23% |
Feb 25, 2025 | $25.66 | $27.45 | +6.96% |
Aug 01, 2024 | $27.85 | $29.77 | +6.88% |
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 Snats (SNN) report earnings?
Smith & Nephew Snats (SNN) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Smith & Nephew Snats (SNN) earnings time?
Smith & Nephew Snats (SNN) earnings time is at Jul 30, 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 SNN EPS forecast?
SNN EPS forecast for the fiscal quarter 2026 (Q2) is 0.99.