Smith & Nephew : Q3 review – good momentum, mixed guidance update
>Beat on top line - Q3 2023 revenues of $ 1,357m (+8.6% y-o-y) were 2% ahead of ODDO BHF/consensus. Underlying growth was 7.7% (vs 4.9%/5.0% expected). Forex created a tailwind of 90bp. No bottom line is reported on a quarterly base.Strong development in Sports Medicine & ENT and Orthopaedics - Sports medicine & ENT generated revenues of $ 425m (+11.3% y-o-y), with a strong underlying growth of 11.1%. Sports medicine joint repair showed an underlying ...Smith & Nephew is a global medical devices business operating in the markets for advanced surgical devices comprising orthopaedic reconstruction and trauma, sports medicine and advanced wound management. Co.'s advanced medical products and services include: Orthopaedic Reconstruction and Trauma (joint replacement systems for knees and hips and products to help repair broken bones); Advanced Wound Management (treatment and prevention products for hard-to-heal wounds); and Sports Medicine (implants and enabling technologies for minimally invasive repair of the joint).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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