for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

BRIEF-Magna Reprts Q1 Earnings Per Share of $0.86

May 7 (Reuters) - Magna International Inc:

* MAGNA ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS

* Q1 ADJUSTED EARNINGS PER SHARE $0.86

* Q1 EARNINGS PER SHARE $0.86

* Q1 SALES $8.7 BILLION VERSUS REFINITIV IBES ESTIMATE OF $8.45 BILLION

* Q1 EARNINGS PER SHARE ESTIMATE $0.75 -- REFINITIV IBES DATA

* COVID-19 PANDEMIC RESULTED IN TEMPORARY SUSPENSION OF PRODUCTION AT FACILITIES IN CHINA, EUROPE AND NORTH AMERICA

* UNABLE TO ASSESS IMPACT OF PANDEMIC ON FINANCIAL RESULTS FOR REMAINDER FISCAL 2020, REMAIN UNABLE AT THIS TIME TO RESUME PROVIDING AN OUTLOOK FOR YEAR

* FACILITIES IN NORTH AMERICA ARE EXPECTED TO RETURN TO PRODUCTION IN STAGES OVER NEXT FEW WEEKS

* ESTIMATED COVID-19 IMPACTS ON Q1 OF ABOUT $1.1 BILLION ON SALES, $250 MILLION ON INCOME FROM OPERATIONS BEFORE INCOME TAXES,ADJUSTED EBIT

* PRODUCTION FACILITIES IN CHINA HAVE GENERALLY RESUMED PRODUCTION, FACILITIES IN EUROPE BEGINNING TO RETURN TO PRODUCTION Source text for Eikon: Further company coverage:

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up