Saint-Gobain reported Q1 sales of €11.1 bn, down 2.3% LFL, missing prior-year growth due to weak North America and Europe.
Volumes fell 7% in the Americas, while Asia posted 9% local‑currency sales growth, driven by double‑digit expansion in India and China.
Operating margin is projected to exceed 15% in 2026, though the first half remains pressured by weather‑related disruptions and weak NA markets.
Barclays maintained an overweight rating, raised its price target, citing confidence in pricing, cost management and the group’s digital/AI investments.