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Richmond lands seven on Fortune 500
May 19, 2020
The Richmond region is nothing if not consistent when it comes to the Fortune 500.
Seven locally based companies made the coveted list published each year by Fortune Magazine, which released its latest edition Monday. The rankings are based on annual revenue.
As has been the case for the last couple years, the same seven companies scored a spot in the top 500, with an additional three making it to the top 1,000.
Henrico-based tobacco giant Altria, as it usually is, is the top local company with a ranking of 167, down five spots from last year. It earned its 2020 ranking with $19.76 billion in revenue, up 0.9 percent. That came despite an annual loss of $1.2 billion, a 118 percent decline in profitability.
The next two locals in line also were fueled by $19 billion in annual revenue. Goochland-based Performance Food Group landed at 168, up eight spots from last year. That’s thanks to $19.74 billion in revenue, up 12 percent.
Its Goochland-based neighbor CarMax earned the 173 ranking, up one spot from last year’s list. That’s due to $19.14 billion in revenue, up 6.5 percent.
The two biggest leaps in the rankings locally were made by Markel and Dominion Energy. Markel, the Innsbrook-based insurer, jumped 106 spots to 335. It reported $9.52 billion in revenue, up 39 percent. Dominion Energy came in at 197, up 41 spots from last year, with $16.57 billion in revenue, up 24 percent.
The biggest drop in rankings locally was earned by Owens & Minor at 332. That’s down 15 spots based on $9.65 billion in revenue, down 1.9 percent.
Henrico-based insurer Genworth Financial rounds out the local Fortune 500s at No. 364, down four spots from last year with $8.68 billion in revenue, up 3 percent.
Other local companies landing in Fortune’s top 1,000 were Brink’s (669), Universal (935) and NewMarket (950).
Read the full story here.
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