Smith & Nephew announces growth in revenue in third-quarter 2022 financial results
Smith & Nephew announced growth in underlying revenue and orthopedics revenue in its third-quarter 2022 financial results, according to a company press release.
Smith & Nephew reported a third-quarter revenue of $1.250 million, an underlying revenue growth of 4.8% in the quarter, according to the release. The company also noted a growth in orthopedics revenue of 2.1% and a growth in sports medicine and ear, nose and throat revenue of 7.1% for the quarter.
“We delivered 4.8% underlying revenue growth in the third quarter, with all franchises and geographies contributing, and are on track to deliver our full-year guidance. Last quarter, we set out our 12-point plan to improve business performance. We are executing at pace and have recorded a number of early successes, including reducing backorders and improving instrument set deployment in orthopedics,” Deepak Nath, CEO of Smith & Nephew, said in the release. “We also continue to deliver innovative new products and build on the value of our technology. During the quarter, we became the first company to receive FDA approval for robotics-assisted revision knee surgery, launched a superabsorbent wound dressing and published compelling new rotator cuff repair data for Regeneten. While we are still near the start of the journey, and there is much more work to be done, I am pleased with our early progress and confident that we are on the right track to transform performance,” Nath said.
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