Texas dominates the Fortune 500, stealing the top spot from Wal-Mart
Today, we brag: Fortune Magazine has released its annual Fortune 500 list of the largest, highest-earning corporations in the United States, showing a large presence of Texas oil and energy in the ratings based on 2011 earnings.
Overall, the Lone Star State ranked No. 2 (just behind California), with 52 companies represented on the list. Twenty five of those are Houston-area corporations, nine are Dallas-based, five are from San Antonio and one — our own Whole Foods Market — is HQ'd here in Austin, with companies from Round Rock, Irving, Sugar Land, The Woodlands, Plano, Richardson, Grapevine, Fort Worth, Corpus Christi and El Paso also ranking.
Whole Foods Market enjoys a slight jump in the list, up to No. 264 from last year's No. 273.
Whole Foods Market enjoys a slight jump in the list, up to No. 264 from last year's No. 273 and boasting a 35% increase in earnings per share in the 2011 fiscal year.
The big winners are the oil and energy titans on the Texas coast. ExxonMobil, operating out of Irving, took the top spot from Wal-Mart, with a 28-percent increase in revenues. ConocoPhillips ranked No. 4 overall for the second year in a row, claiming $237.2 billion in revenue.
Meanwhile, Marathon Oil fell from No. 29 in 2010 to No. 173 in 2011, with a revenue loss of $53 billion. Plains All American Pipeline (87), Halliburton (118), National Oilwell Varco (184), Anadarko Petroleum (192), Enbridge Energy Partners (282), CenterPoint Energy (305) and Spectra Energy (438) were also recognized, among others.