For the third year running, Goochland-based Performance Food Group led the pack of local companies named to the annual Fortune 500 list.
The food distributor was the highest ranked of the eight Richmond-area firms to land on the coveted list, thanks to $47.2 billion in revenue in 2022, up 62 percent from the previous year.
PFG nabbed the 91st spot on the overall list, and also was the only local company to break into the Fortune 100 strata in the latest rankings. PFG came in at No. 112 in last year’s rankings.
The annual list compiled by Fortune Magazine and announced Monday ranks America’s largest companies by annual revenue.
The Richmond-area firms that made this year’s list all made appearances in last year’s top 500, though positions shuffled.
Tobacco giant Altria Group, which for years was the perennial front-runner among local Fortune 500s before PFG’s ongoing reign, ranked this year at No. 194 with $20.7 billion in revenue. That’s down from No. 165 on last year’s list.
Altria also dropped down a notch from the second-highest ranked local firm to third, with CarMax rising to No. 124. The used-car seller’s revenue was $33.2 billion in 2022, up 65 percent from last year. CarMax rose 50 places in the rankings from the previous list.
Convenience store owner Arko Corp., a newcomer to the Fortune 500 in last year’s rankings, continued its climb to No. 460 with $8.1 billion in revenue. Last year, it came in at No. 498.
The local Fortune 500 lineup was rounded out by Dominion Energy (No. 242), Markel (No. 352), Owens & Minor (No. 390) and Genworth (No. 486). Local firms Brink’s, NewMarket and ASGN made the Fortune 1000.
Virginia’s top company in this year’s rankings was Freddie Mac. The McLean-based government-sponsored mortgage provider secured the 45th spot with $86.7 billion in revenue.
Across the Old Dominion, 36 companies landed in the Fortune 1000, including 24 in the top 500. In last year’s statewide rankings, 34 companies made the top 1,000 and 21 of them were among the Fortune 500.
The top five Fortune 500 companies nationally were Walmart, Amazon, Exxon Mobil, Apple and UnitedHealth Group.
The full list of the 2022 Fortune 500 and Fortune 1000 companies can be viewed here.