Smith+Nephew posted $1.3 billion in first-quarter revenue, an 11.5 percent year over-year-increase, with significant growth in hip sales.
Five notes:
1. For the first quarter, orthopedic revenue increased 1.6 percent year over year to $540 million.
2. Within the orthopedic segment, hip revenue increased 9.1 percent year over year to $154 million; knee revenue decreased 10.3 percent to $212 million; trauma and extremities revenue was up 12 percent to $149 million; and other reconstruction revenue rose 17.7 percent to $25 million.
3. All three of the company's global franchises — orthopedics; sports medicine and ear, nose and throat; and advanced wound management — returned to growth in the first quarter.
4. The return to growth is attributed "not only by surgery volumes moving towards more normal levels in many markets, but also the benefits from better commercial execution, acquired assets and recent product launches," CEO Roland Diggelmann said in the company's April 29 financial report.
5. Smith+Nephew said it expects 10 percent to 13 percent underlying revenue growth in 2021.