London · Delayed Price · Currency is GBP · Price in GBX Smiths Group Earnings Call Transcripts
Fiscal Year 2026
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Smiths has executed major portfolio actions, focusing on John Crane and Flex-Tek, and is targeting 5%-7% organic revenue growth, 21%-23% margins, and substantial capital returns. Recent acquisitions, innovation, and sustainability initiatives support growth, while macro risks are managed through cost control and operational excellence.
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Solid H1 FY2026 results with 4% organic revenue growth, margin expansion, and strong EPS gains. Major divestments and acquisitions sharpened focus, enabling a new GBP 1.5 billion capital return. Outlook remains positive, with robust order books and targeted growth in core segments.
Fiscal Year 2025
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Fiscal year 2025 saw robust organic revenue and profit growth, margin expansion, and strong cash generation, exceeding guidance. Strategic separations, disciplined capital allocation, and innovation underpin a positive outlook for continued growth and shareholder returns in FY26.
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Strong first-half results with 9.1% organic revenue growth, margin expansion, and robust cash flow. Strategic focus shifts to John Crane and Flex-Tek, with separation of Interconnect and Detection underway. FY2025 guidance and ambitious medium-term targets reaffirmed.
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Significant portfolio restructuring will focus on John Crane and Flex-Tek, with Smiths Interconnect to be divested and Smiths Detection separated. Enhanced shareholder returns include a £500 million buyback and return of disposal proceeds. FY 2025 guidance is unchanged despite a recent cyber incident.
Fiscal Year 2024
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Strong FY 2024 results with 5.4% organic revenue growth, margin expansion, and robust cash flow. Two Flex-Tek acquisitions announced, acceleration plan launched to drive further savings and margin gains. FY 2025 guidance reaffirmed for 4–6% organic growth and continued margin improvement.