$4.27 Billion in Negative Currency Impacts Sustained by European Companies
(SCOTTSDALE, Ariz.) – The release of the Q3 2017 FiREapps Currency Impact Report™ (CIR) depicts a loss of $4.27 billion due . . . to currency impacts by European companies – the largest reported impact since Q3 2015.
Europe saw an increase not only in negative quantified FX impacts but also in the number of companies reporting impact.
North American and European companies reported a collective $5.27 billion in losses this quarter, with 26 North American multinationals quantifying $1.01 billion in FX impacts and 26 European multinationals quantifying a loss of $4.27 billion.
Q3 2017 was a quarter of decreasing quantified impacts for North American corporations, with a dramatic decline in the number of companies reporting negative currency impacts as well – 68 in Q3 2017 as compared to 220 in Q2 2017. Additionally, earnings per share (EPS) impact reported by North American companies was at $0.03 – and has continued to hover around the $0.03-$0.04 mark over the past five quarters.
Each quarter, FiREapps analyzes the earnings calls of more than 1,200 publicly traded North American and European companies to collect data on the negative impact and volatility of various currencies. The FiREapps Q2 2017 Currency Impact Report can be used as a benchmarking tool for corporate boards and CFOs to gauge their company’s currency impacts in comparison to other multinational corporates.
Download the full report here.
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FiREapps is the leading provider of corporate currency analytics and FX exposure management technologies. Established in 2005, FiREapps developed the first solution to automate foreign exchange exposure management for multinational companies. Through a combination of software solutions and expert analysis, FiREapps helps companies ensure they’re accurately measuring and managing their FX exposures. Numerous Fortune 500 companies rely on FiREapps technology to help them reduce FX risk and increase efficiency every day.
FiREapps is headquartered in Scottsdale, Arizona, with offices in Portland, London and Frankfurt.
For more information, visit www.fireapps.com or call +1 866-928-FIRE (3473).
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