May 7 (Reuters) - Element Fleet Management Corp EFN.TO :
* ELEMENT REPORTS FIRST QUARTER RESULTS, FURTHER PROGRESS ON TRANSFORMATION, STRENGTHENING OF ITS BALANCE SHEET, AND INCREASE TO 2020 GUIDANCE
* SEES FY 2020 ADJUSTED OPERATING EARNINGS PER SHARE C$1.00 TO C$1.05
* Q1 ADJUSTED EARNINGS PER SHARE C$0.21 INCLUDING ITEMS
* Q1 EARNINGS PER SHARE C$0.16
* Q1 EARNINGS PER SHARE ESTIMATE C$0.18 -- REFINITIV IBES DATA
* Q1 REVENUE C$237.7 MILLION, UP C$29.3 MILLION
* FY2020 EARNINGS PER SHARE VIEW C$0.91 -- REFINITIV IBES DATA
* TARGETING RETURN ON EQUITY OF 13.0-13.5% AND A TANGIBLE LEVERAGE RATIO BELOW 6.0X EXITING 2020.