May 8, 2020 / 12:56 PM / a month ago

BRIEF-Lear Corp Says Q1 Financial Results Significantly Impacted By Production Disruptions Stemming From Covid-19 Pandemic

May 8 (Reuters) - Lear Corp:

* LEAR CORP - Q1 FINANCIAL RESULTS SIGNIFICANTLY IMPACTED BY PRODUCTION DISRUPTIONS STEMMING FROM COVID-19 PANDEMIC

* LEAR CORP - EXPERIENCED PLANT SHUTDOWNS IN CHINA BEGINNING LATE JANUARY

* LEAR CORP - BY END OF QUARTER, ALL OPERATIONS IN CHINA WERE OPEN, & CAPACITY UTILIZATION WAS INCREASING

* LEAR CORP - MANUFACTURING RESUMED AT SOME LOCATIONS IN EUROPE & NORTH AMERICA, PRODUCTION LEVELS AT THESE FACILITIES CURRENTLY WELL BELOW CAPACITY

* LEAR CORP - ENDED Q1 WITH CASH & CASH EQUIVALENTS OF $2.45 BILLION & TOTAL LIQUIDITY OF $3.2 BILLION, HAS NO SIGNIFICANT NEAR-TERM DEBT MATURITIES Source text for Eikon: Further company coverage: [LEA.N ]

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