Big box retailer Wal-Mart has reclaimed the No. 1 spot on the Fortune 500 list. Who else is in the top 10?
A renewed focus on low prices has helped Wal-Mart regain its position as the nation’s biggest-grossing company, according to the Fortune 500 list released this morning by Fortune Magazine. The discount retailer had slipped to second in the 2012 rankings.
The Fortune 500 rankings reflect total revenues of companies that operate in the United States and file financial statements with a government agency. The list includes private companies, co-operatives and insurance agencies.
With 2012 sales of $443.9 billion, Wal-Mart bumped Exxon Mobil, the world’s biggest oil refiner, from the No. 1 spot. Exxon Mobil posted the second-highest annual profit in U.S. history in 2012, but fell short of its record $45.22 billion for 2008.
Here’s a look at the remaining eight Fortune 10 companies:
· Chevron: The nation’s second largest oil company retains is No. 3 ranking with 2012 earnings of $26.2 billion.
· Phillips 66: A spin-off from ConocoPhillips, the oil refining company ranks No. 4.
· Berkshire Hathaway: Headed by billionaire investor Warren Buffett, the investment company rose from seventh to fifth place, despite what Buffett called a “subpar” year in 2012.
· Apple: The consumer electronics and computer company made the Fortune 10 for the first time this year.
· General Motors: A 32 percent drop in earnings in 2012 sent GE from fifth to seventh position, though the company remains one of the 50 most profitable in the Fortune 500.
· General Electric. America’s biggest industrial company fell from sixth to eighth position on sluggish growth in U.S. and an economic slowdown in Europe.
· Valero Energy: Valero is the world’s largest independent oil refiner, with facilities across the U.S. Caribbean, United Kingdom and Canada.
· Ford Motor Co.: Ford dropped from ninth to last on the Fortune 10 list on a 72 percent drop in earnings from 2011 to 2012. On a bright note, the Ford Focus has become the top-selling car in the world.