North American Companies See 2,000+ Percent Increase in Negative Currency Impacts
(SCOTTSDALE, Ariz.) – European and North American companies reported $15.44 billion in quantified negative currency impacts, according to the Q2 2018 FiREapps Currency Impact Report™ (CIR).
North American companies quantified $1.02 billion in negative currency impacts, an increase of 2,657 percent from Q1 2018. Additionally, there was a 150 percent increase in the number of companies reporting in Q2 2018 as compared to Q1 2018.
European companies reported a quantified $14.42 billion in negative currency impacts, a decrease from the staggering $22.89 billion that was reported in Q1 2018. Although a decrease from the previous quarter, the Q2 2018 impact is still one of the highest reported in recent years. The number of European companies reporting impacts increased by 16 percent.
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 2018 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.
To learn about specific industries that were affected and which currencies were most impactful to corporations, download the full report here.
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FiREapps is the leading provider of cloud-based enterprise currency management (ECM) solutions for currency exposure management and enterprise currency analytics. Established in 2005, FiREapps developed the first solution to automate foreign exchange exposure management for multinational companies. Today, the company provides automated solutions to support the analysis and management of currency exposure, as well as the assessment and reporting of how currencies can impact corporate financial performance.
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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