Richmond’s eight Fortune 500s remained on the magazine’s annual list of the nation’s largest companies this year, with all but one improving their rankings from last year.
Altria Group remained the highest of its local peers on the list, released this week and ranked by Fortune according to annual revenue from the previous year. The tobacco giant improved its position by one spot, edging up to 148 this year with $19.33 billion in revenue – a 2.4 percent increase over the previous year.
Goochland-based Performance Food Group, which returned to the list last year after seven years as a private company, jumped 14 spots to 171, reflecting a 5.4 percent increase in revenue with $16.1 billion.
The food distributor remained ahead of CarMax by just three spots. The used car retailer came in at 174, moving 17 spots higher than last year with $15.83 billion in revenue – a 6.4 percent increase.
Downtown-based packing company WestRock had the highest upward movement, jumping 61 spots to 190, reflecting a 29 percent increase in revenue with $14.7 billion.
Dominion Resources, Owens & Minor and Markel Corp. also improved their positions. The utility company, recently rebranded as Dominion Energy, moved five spots up the list to 238 with $11.73 billion in revenue. O&M, a healthcare logistics company, moved three spots to 288 with $9.72 billion in revenue. Markel, the local insurance giant that broke onto the list last year, moved 16 spots to 460 with $5.61 billion – a 4.4 percent increase.
Genworth Financial dropped 23 spots to 329, representing a 9.6 percent decrease in revenue with $8.36 billion.
A total of 23 Virginia companies made this year’s list, which can be viewed here.
Richmond Fortune 500 Companies
Altria #148 (149) – $19.33B
Performance Food Group #171 (185) – $16.1B
CarMax #174 (191) – $15.83B
WestRock #190 (251) – $14.7B
Dominion #238 (243) – $11.73B
Owens & Minor #288 (291) – $9.72B
Genworth #329 (306) – $8.36B
Markel #460 (476) – $5.61B