The title Saint-Gobain SGOB.PA prances on Friday at the top of the CAC 40 .FCHI after the publication the previous evening of a quarterly turnover above expectations.
At 10:27 a.m., the stock rose 5.82% to 74.5 euros when the CAC 40 gained 0.28% at the same time.
Saint-Gobain reported Thursday a turnover of 11.36 billion euros in the first quarter, down 5.8% like-for-like due to the decline in new construction in Europe.
The turnover nevertheless comes out 1% beyond the consensus at 11.26 billion euros provided by the group.
“The spread between prices and costs was positive during the quarter and the company confirmed its forecast of a double-digit operating margin for the 2024 financial year,” Jefferies analysts note in a note.
They also point out that the tone of the conference call organized by management with analysts was “reassuring” for volumes and margins.
(Written by Shivani Tanna, Blandine Hénault for the French version, edited by Kate Entringer)