The Kyriba July 2022 Currency Impact Report Reveals FX Impacts Surge to $24 Billion for Multinationals. North American corporations experienced a $14+ billion hit to their earnings, more than 200% single quarter spike in headwinds.
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A few highlights include:
- Publicly traded North American companies that qualified to be monitored in the Q1 2022 CIR reported a combined $14.66 billion in headwinds, and $522 million in tailwinds
- Earnings per share impact in North America decreased to .03 (vs $0.04), three times greater than the industry standard MBO of less than $0.01 EPS
- The ruble was the currency most mentioned as impactful by European companies on earnings calls, followed by the Swedish krona and the U.S. dollar ranking third
