Smith & Nephew announced a Q3 trading update in line with the consensus but slightly soft versus our own estimates, with revenue growth of 4.8% on an underlying basis as all segments registered an acceleration in their growth rates vs Q2/H1 22. While supply chain bottlenecks and staff shortages remained constraints, the former seem to be receding.
The FY 22 outlook (4-5% UL growth and a 17.5% trading profit margin) was unchanged.
We will trim our FY 22 estimates by low single digits to factor ....
08 Nov 2022
Q3 22: the first signs of a recovery?
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Q3 22: the first signs of a recovery?
Smith & Nephew plc (SN:LON) | 960 -17.3 (-0.2%) | Mkt Cap: 8,394m
- Published:
08 Nov 2022 -
Author:
Virendra Chauhan -
Pages:
3
Smith & Nephew announced a Q3 trading update in line with the consensus but slightly soft versus our own estimates, with revenue growth of 4.8% on an underlying basis as all segments registered an acceleration in their growth rates vs Q2/H1 22. While supply chain bottlenecks and staff shortages remained constraints, the former seem to be receding.
The FY 22 outlook (4-5% UL growth and a 17.5% trading profit margin) was unchanged.
We will trim our FY 22 estimates by low single digits to factor ....