Smith & Nephew reported second quarter revenue increased 3.5 percent in 2019, with a strong performance in the company's emerging markets and sports medicine.
Five things to know:
1. The company's revenue hit $1.2 billion for the quarter, including $552 million from the orthopedics line. Orthopedics revenue was up 3.6 percent for the quarter.
2. The sports medicine line had a strong quarter, with sports medicine and ENT reporting a 5.6 percent revenue growth for the first half of the year. The sports medicine joint repair segment had 9.3 percent revenue growth for the second quarter.
3. Knee revenue was up 1.7 percent for the quarter, reaching $262 million, while hip sales were flat at $159 million. The knee line was driven by demand for the Journey II and Legion revision knee systems, and the company has rolled out Journey II to markets outside the U.S. as well.
4. U.S. revenue was up 7.5 percent to $635 million. Emerging market revenue jumped 9.1 percent to $246 million.
5. Smith & Nephew updated its full year guidance after the company's revenue grew 3.9 percent in the first half of the year. The company now expects revenue growth between 3.6 percent and 4.6 percent for the year. Trading profit margins for the year are expected in the range of 22.8 percent to 23.2 percent.