Smiths Group beats profit forecasts, plans to divest legacy asbestos liability
Smiths Group reported resilient fiscal 2026 results despite facing disruption in the Middle East, weaker U.S. housing market, and tariff pressure. The company's organic revenue growth was 1.2%, reaching GBP 1.9 billion, while headline operating profit rose by 1.9% to GBP 399 million. Operating margin improved to 20.6%, reflecting pricing, cost control, and revenue mix adjustments.
Smiths expects about 4% organic revenue growth for fiscal 2027, with an operating margin of approximately 21%. The company completed a full-year dividend of 48.5 pence, up 5.4%, and finalized major buyback programs. Smiths' strategic progress and portfolio reshaping led to a 5.33% rise in its stock price to $2,728.1, near its 52-week high.
The strong performance highlights the company's execution in pricing, product mix, and cost discipline, positioning it for continued growth despite external challenges.
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