Which Companies May Benefit From A Weak US Dollar?

As the earnings season kicks off, the sharp devaluation of the US dollar may play a key role for American companies that rely heavily on overseas operations.

In the past four months, the dollar index, a measure of the greenback versus a basket of currencies, is down nearly 13 percent since reaching a 15-month high on June 2010.

As a result, multinational companies that were negatively impacted by the dollar's strength during the first two quarters of 2010, could see that effect reverse, profiting from the dollar's decline.

The table below contains a screen of the S&P 500, showing companies which receive from than 50 percent of their revenue from abroad, and have seen their shares outperform the major averages year-to-date.

Data Source: FactSet
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