Saint-Gobain Q1 Sales Down 2.3%

Saint-Gobain Q1 sales fell 2.3% LFL to €11.1 bn, dragged by weak North American construction volumes down 7%.
Asia sales rose 9% in local currencies, driven by double‑digit growth in India and continued momentum in China.
Revenue slightly beat expectations; Barclays kept an overweight rating, raised price target, and expects operating margin >15% in 2026.
Company flagged first‑half weakness from North America and European weather, but anticipates H2 improvement and continues investing in digital and AI tools.