By Adria Calatayud


Saint-Gobain confirmed its 2024 profitability outlook after it reported a drop in sales for the first quarter, hurt by a decline in volumes that couldn't be offset through pricing.

The French constructions-materials supplier said sales for the first three months of the year amounted to 11.36 billion euros ($12.15 billion) compared with EUR12.41 billion in the same period last year. This compared with analysts' expectations of EUR11.26 billion, according to consensus estimates provided by Visible Alpha.

On a like-for-like basis, sales fell 5.8%, with both prices and volumes, it said.

The company confirmed its target of an operating margin in the double-digit percentage range in 2024, but said it continues to expect a challenging first half of the year in some of its markets, particularly in Europe.


Write to Adria Calatayud at adria.calatayud@wsj.com


(END) Dow Jones Newswires

04-25-24 1222ET