Smith & Nephew reports underlying revenue growth in third-quarter 2023 financial results
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Key takeaways:
- Smith & Nephew reported revenue growth in its third-quarter 2023 financial results.
- The company reported increased revenue in orthopedics; sports medicine and ear, nose and throat; and advanced wound management.
Smith & Nephew has reported underlying revenue growth in its third-quarter 2023 financial results, according to a company press release.
Smith & Nephew reported $1.357 billion in revenue for the third quarter, a 7.7% increase in underlying revenue compared with the prior year period. The company also reported an 8.3% increase in orthopedics revenue, an 11.1% increase in sports medicine and ear, nose and throat revenue and a 3.6% increase in advanced wound management revenue in the quarter compared with the prior year period.
“We saw strong growth in the third quarter, continuing the momentum from the first half of the year. Performance was broad-based, and I am particularly pleased by the step-up in orthopedics as we start to see the real impact from our improving execution under the 12-point plan,” Deepak Nath, CEO of Smith & Nephew, said in the release. “Overall, I am encouraged that our actions to transform Smith & Nephew to a consistently higher growth company are starting to deliver,” Nath added.
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