Exxon bumps Wal-Mart on Fortune 500

By Robert Trigaux, Times Business Columnist
In Print: Monday, April 20, 2009

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Exxon Mobil topped the annual Fortune 500 list of the nation's biggest public corporations by revenues for the 12th time in history, with 2008 revenues of more than $442 billion and profits of more than $45 billion.

Exxon passed Wal-Mart, which fell to No. 2 last year after holding the No. 1 spot for six of the previous seven years. The giant retailer had 2008 revenues of more than $405 billion and profits of $13.4 billion.

The annual list, compiled by Fortune magazine and released today, offers a glimpse at who is up and who is down among the nation's biggest corporations. The 2008 results are especially compelling because of the recession's impact and Wall Street's plummet that hit so hard last fall.

In Florida, 13 corporations based in the state made the Fortune 500 list, led by Lakeland's Publix Super Markets at No. 101, up from No. 107. Publix, with 2008 revenues of just over $24.1 billion, squeezed past Clearwater-based Tech Data Corp. by a mere $29 million as Florida's biggest corporation. Tech Data ranked No. 102, up from No. 105.

Other Florida companies and their ranks: World Fuel Services, Miami, at No. 137; International Assets Holding, Altamonte Springs, No. 140; FPL Group, Juno Beach, No. 154; AutoNation, Fort Lauderdale, down 44 spots in a rough year for selling autos to No. 182; Jabil Circuit, St. Petersburg, No. 212; CSX Corp., Jacksonville, No. 240; Winn-Dixie Stores, Jacksonville, No. 340; Darden Restaurants, Orlando, No. 374; WellCare Health Plans, Tampa, No. 381; Ryder System, Miami, No. 371, and Harris, Melbourne, No. 447.

Two of the companies, AutoNation and Wellcare, posted losses in 2008.

Florida boasted 12 Fortune 500 companies for 2007, including Miami homebuilder Lennar Corp., which failed to make the listing for 2008 because of the drastic shrinkage in home construction last year.

Robert Trigaux can be reached at trigaux@sptimes.com

Overall earnings of the top 10 on the list plunged 85 percent, to $98.9 billion from $645 billion in 2007, the biggest one-year decline in the list's 55-year history. Here are the top 10.

1. Exxon Mobil

2. Wal-Mart

3. Chevron Corp.

4. ConocoPhillips

5. General Electric Co.

6. General Motors Corp.

7. Ford Motor Co.

8. AT&T Inc.

9. Hewlett-Packard Co.

10. Valero Energy Corp.

Biggest winner: Engineering and construction company URS Corp. moved up the most, leaping 185 spots to No. 264.

Biggest losers: Insurance giant AIG, recipient of more than $180 billion in government bailout aid, fell 232 spots to 245. Banks, securities firms and insurers took cumulative losses of $213.4 billion, almost 70 percent of the total dollar decline from the peak year of 2006.

Associated Press

[Last modified: Apr 19, 2009 08:16 PM]

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