Smith & Nephew saw Q1 20 revenue decline by 7.6%, on an underlying basis – driven by broad-based weakness, as the COVID-19 outbreak hurt elective procedure volumes. With April revenue down 47%, there is more pain ahead before recovery. However, with procedure volumes returning in key markets, a recovery in H2 looks realistic. Following the Q1 update, we do not expect any significant change in estimates as the Q1 numbers as well as April trading were only marginally better than our e
12 May 2020
Q1 20: COVID-19 pain set to peak in Q2?
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Q1 20: COVID-19 pain set to peak in Q2?
Smith & Nephew plc (SN:LON) | 994 -334 (-3.3%) | Mkt Cap: 8,689m
- Published:
12 May 2020 -
Author:
Virendra Chauhan -
Pages:
3
Smith & Nephew saw Q1 20 revenue decline by 7.6%, on an underlying basis – driven by broad-based weakness, as the COVID-19 outbreak hurt elective procedure volumes. With April revenue down 47%, there is more pain ahead before recovery. However, with procedure volumes returning in key markets, a recovery in H2 looks realistic. Following the Q1 update, we do not expect any significant change in estimates as the Q1 numbers as well as April trading were only marginally better than our e