May 3 (Reuters) - Canada's Magna International missed analysts' estimates for first-quarter profit and cut its full-year overall sales forecast on Friday, as the auto parts supplier navigates headwinds from supply chain snags.

The Aurora, Ontario-based company also recorded asset impairments and restructuring costs of $316 million related to troubled electric-vehicle startup Fisker.

Magna, which produces powertrains, along with assembling complete vehicles, signed agreements with Fisker in 2020 to engineer and manufacture its Ocean SUV.

Fisker has been grappling with mounting uncertainties after talks with a large automaker for a potential investment collapsed in March.

Peer Aptiv also cut its annual sales forecast on Thursday and said it would reduce equity interest in its self-driving joint venture, Motional, with Hyundai Motor .

Auto parts suppliers have been struggling with lower-than-expected demand for their EV components as carmakers shift their focus toward producing affordable hybrids.

Supply chain constraints, coupled with labor shortages which began during the pandemic, also continue to impact the auto industry as they try to ramp up production.

Magna said it expects full-year 2024 sales of $42.6 billion to $44.2 billion, compared with its prior forecast range of $43.8 billion to $45.4 billion.

On an adjusted basis, it earned $1.08 per share in the first quarter, compared with analysts' average estimate of $1.24 per share, according to LSEG data. (Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)