Foreign currency is the thorn in the balance sheet, but the strong U.S. dollar isn't piercing, since multinationals are equipped to hedge against weakness, says Constance Maneaty, analyst at Prudential Securities. Many of them raise prices as soon as currency devalues. For instance, in Turkey I would imagine prices have gone up there in line with the devaluation. Clorox will report earnings for the third quarter on April 27. But, the strong dollar does squeeze margins, says Gingrich.
Currencies come and currencies go.
So it's not so much who's multinational and who's not, it's a reflection of how you're running your business.