Texas moves up in Fortune 500 HQ revenue ranking
Monday May 7, 2012
Dallas Morning News – By SHERYL JEAN
A sign marks the entrance of the Exxon Mobil corporate headquarters in Irving. The oil giant returned to the top spot on this year’s Fortune 500 list.
Exxon Mobil Corp. has reclaimed its title as the nation’s largest company.
The Irving-based oil giant again placed first on this year’s Fortune 500 list, beating out Wal-Mart Stores Inc., which had knocked Exxon from its perch in 2010 and 2011.
Exxon generated about $453 billion in revenue and $41 billion in profit, according to Fortune magazine’s annual ranking of the nation’s largest corporations, which was released Monday. Wal-Mart was No. 2, with roughly $447 billion in revenue and $15.7 billion in profit.
Exxon declined to comment.
Overall, 52 Texas-based companies made the list, with total revenue of more than $1.6 trillion. The number of companies was second only to California’s 53 companies, which had combined revenue of more than $1.3 trillion.
The list included 18 North Texas companies, down from 20 last year.
Three companies based in North Texas dropped off the Fortune 500 list this year: Dallas-based Atmos Energy Corp. plus RadioShack Corp. and D.R. Horton Inc., both based in Fort Worth. Richardson-based MetroPCS Communications Inc. was added this year as No. 51.
“The high concentration of 2012 Fortune 500 companies in Texas, and Dallas-Fort Worth in particular, sends a positive message to other companies — big and small — that our region has a strong list of attributes and investments that are quite remarkable,” said Jim Oberwetter, president of the Dallas Regional Chamber. “Companies around the world see our business-friendly climate and think of D-FW as one of the world’s premier business locations.”
The Dallas-Fort Worth area ranked sixth among metropolitan areas for the most corporate headquarters, according to research by the North Texas Commission, a nonprofit consortium that markets the region. The New York area was first, with 68 companies.
But the commission calculated that D-FW was second in terms of the total revenue generated by companies on the list.
“While we dropped in ranking for D-FW, the revenue increased 16.6 percent or $111 billion” to about $783 million, said Mabrie Jackson, chief executive of the North Texas Commission. “The story is the revenue.”
Fortune ranked companies by total revenue for 2011 or for a fiscal year ended by Jan. 31.