Saint-Gobain shares slide as Americas performance disappoints

Compagnie de Saint Gobain SA

31/10/2025 09:10

** Shares of French building materials producer Saint-Gobain SGOB.PA fall nearly 3% following broadly in line quarterly update but weaker-than-expected sales in the Americas

** RBC Europe analysts attribute the US volume decline to muted construction activity and flat Americas margins

** "Typically, 10% of roofing demand is derived from extreme weather events - a lack of hurricanes this year has therefore weighed on volumes, particularly against a tough comparison base of 2024," RBC adds in a note

** Jefferies analysts say that Americas reported weaker-than-expected like-for-like (lfl) sales (-2.9%) with North America's 6.9% drop due to residential new build weakness and subdued storm season volumes, while Latin America partially offset this with a growth of 6.4%

** Glynis Johnson of Jefferies sees downward pressure on Saint-Gobain's FY25 margins from the regional sales mix but notes potential operating leverage improvement in Europe and storm season recovery in 2026

** The stock is at the bottom of France CAC40 index .FCHI

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))