Many don't though, and even if they all did, you can't hedge forever. Hedges are also rolling, so as some hedges expire the companies need to set up new hedges,

Many don't though, and even if they all did, you can't hedge forever. Hedges are also rolling, so as some hedges expire the companies need to set up new hedges, which are at a worse FX rate. So the hedges lessen the impact but they aren't perfect, otherwise they would not be called 'hedges'.