Saint-Gobain tops CAC 40 after 'yet another beat'

Compagnie de Saint Gobain SA

28/02/2025 09:36

** Shares in Saint-Gobain SGOB.PA rise almost 3% after the French construction materials group posted FY core profit slightly above expectations

** FY operating income comes in at 5.30 billion euros ($5.51 billion), above the company-compiled consensus of 5.25 billion

** The firm sees 2025 operating margin over 11%, slightly above the 9-11% guided before; it will announce its new outlook during an investor day on October 6

** "Commentary on growth in the UK, Germany & Eastern Europe could provide some excitement, while confidence in North America should reassure," Jefferies says, pointing to "yet another beat"

** The brokerage expects the new targets, due in October, will reframe Saint-Gobain to increasingly resemble its higher value peers

** Stifel notes the results were pretty much in line, but the outlook was struck too cautiously

** "The stock ticks all of our preferences, with its high housing and European exposure possibly driving volume growth above expectations," it adds

** Stifel says any weakness related to exposure to French and North American housing should be used as a buying opportunity

** The stock sits at the top of France's blue-chip index CAC 40 .FCHI

($1 = 0.9615 euros)

 (Reporting by Michal Aleksandrowicz)

 ((michal.aleksandrowicz@tr.com))