Smith & Nephew’s Q2 2026 shows mixed signals: strong growth in Sports Medicine and ENT, but weakness in U.S. Orthopaedics—especially knees—and delayed hip product launches. Despite a revised full-year revenue forecast of 4%, they’re holding firm on profit, cash flow, and ROI targets thanks to an extra $50M in efficiency savings. Their 12-point strategy is proving resilient, helping them navigate short-term headwinds while betting big on a stronger second half—with projected 5-5.5% growth driven by knee/hip recovery, stabilized skin substitutes, and SANTYL’s rebound. They’re doubling down on innovation and global expansion to fuel long-term shareholder value.
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