UK's Smith+Nephew cuts 2026 revenue view on weak US knee implant demand

The company expects skin substitutes revenue to stabilise in the second half and fully normalise in 2027, but now sees the reimbursement hit towards the upper end of the guided $20 million to $40 million range.

Nath told Reuters that while the path to 2028 has changed, the company still expects to deliver revenue growth rates of 6% to 7% that year.

Smith+Nephew also expects U.S. tariffs to be broadly neutral to trading profit after refunds, as it offsets higher raw material prices in the wake of the Iran war through price rises and efficiencies in its supply chains.

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