Fortune 500 is an annual list compiled and published by Fortune magazine that ranks America’s top largest corporations. Ranked by their gross revenue, it excludes the impact of excise taxes companies incur. The list consists of publicly and privately held companies for which revenues are openly available.
Huntington Ingalls Industries Inc., parent of Newport News Shipbuilding, made the latest Fortune 500 listing released May 6 - its first time on the list since going public in 2011. Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. With $6.7 billion in annual revenue, the Newport News-based company ranked 380th on the Fortune list. It was one of four locally based companies on the latest list.
Smithfield Foods Inc. ranked 213th, with $13.1 billion in revenue, it moved up from its 218th ranking last year. Smithfield Foods is the world's largest pork producer and processor. Headquartered in Smithfield, Virginia, it runs facilities in 26 states, including the largest meat processing plant in the world, located in Tar Heel, North Carolina. It also has operations in Mexico and in 10 European countries.
Norfolk Southern Corp. ranked 247th, with $11 billion in revenue, down from 241st. Norfolk Southern is a publicly traded stock corporation based in Norfolk, Virginia. It is the holding company for the Norfolk Southern Railroad, a major Class I railroad system.
Dollar Tree Inc. finished 346th, with $7.4 billion in revenue, up from its 373rd previous ranking. DollarTree is an American chain of discount variety stores that sells every item for $1.00 or less. Headquartered in Chesapeake, Virginia it operates 4,400 storesthroughout the 48 neighboring states and Canada. The company operates one dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates a multi-price point variety chain under the name Deal$.
Virginia Beach-based Amerigroup Corp., which ranked 385th last year, fell off this year's list after a buyout in December by WellPoint Inc.
Tracking the increase in sales of a company is a way to determine if the company is indeed growing. Not only is it very important information for investors, sales growth is also an indicative of the state of the economy.