Business is booming in the Lone Star State! Fortune recently released its Fortune 500 rankings for 2018, revealing five Texas-based companies in the top 25. Fortune ranks companies based on total revenue. Here’s what the rankings show:
5 – Valero Energy. Based in San Antonio, Valero Energy came in at #24 in the Fortune 500 rankings. This Texas refinery earned $111.4 billion in revenue in the last fiscal year and plans to continue growing through $2.5 billion worth of investments in pipelines and storage facilities.
4 – Phillips 66. Phillips 66, an energy manufacturing and logistics company with headquarters in Houston, ranked #23 on the Fortune 500’s list. Its revenue reached $114 billion, and the company provided jobs for more than 14,000 employees.
3 – AT&T. Dallas-based corporation AT&T continues to grow, acquiring a movie studio and cable programming company (which includes HBO) this year and coming in at #9. Last year, AT&T earned $171 billion in revenue despite a drop in its stock price.
2 – McKesson. McKesson, with headquarters in Irving, TX, ranked #7 on the Fortune 500 list. Dominating the healthcare sector, McKesson is America’s largest drug distribution company and earned $208.4 billion last year.
And the No. 1 top Fortune 500 company in Texas is … Exxon Mobil in Irving! It isn’t surprising that powerhouse Exxon Mobil earned the #2 spot on the Fortune 500 rankings (behind Walmart). Based in Irving, TX, Exxon’s revenue for last year was $290.2 billion. Fun fact – Exxon Mobil has ranked on the Fortune 500 list for 65 years!
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