Amrize Ltd's stock plummeted 5.16% during intraday trading on Thursday, following the release of its first-quarter financial results that fell short of analyst expectations.

The Swiss building materials company reported a quarterly adjusted loss of 21 cents per share, significantly worse than the mean analyst estimate of a 13-cent loss. While revenue of $2.18 billion slightly exceeded expectations of $2.14 billion, the earnings miss and disappointing segment performance drove the stock lower.

The decline was primarily attributed to weak performance in the company's Building Envelope segment, which reported adjusted EBITDA of $78 million - a sharp 37.1% decrease compared to the same period last year. Analysts noted that residential roofing within this segment suffered from soft demand and weak pricing, which dragged down the overall group results and effectively wiped out Amrize's year-to-date gains.