The latest Fortune 500 rankings reveal a major shift in North Texas, with McKesson Corp. taking the region’s No.1 spot.
The pharmaceutical distribution and healthcare giant, headquartered in Irving, clinched the top spot following ExxonMobil’s relocation to the Houston area last summer, reported Dallas Business Journal. McKesson relocated from California to North Texas in 2019, per DBJ. The company ranks No.9 overall, while ExxonMobil ranks No.7, down four spots from last year’s rankings.
The latest Fortune 500 rankings also spotlight other notable movements within DFW’s corporate landscape. Fluor, a large engineering and construction firm based in Irving, saw a big leap, climbing 38 spots to No.265, reported DBJ.
Similarly, Yum China Holdings Inc., headquartered in Plano and known for its ownership of popular fast-food chains like KFC and Pizza Hut, rose 37 spots to No.368.
Alongside the success stories, however, there were companies facing challenges. Builders FirstSource, an Irving-based company, experienced a notable decline, slipping 68 spots to No.240. The company cited a “challenging operating environment” in 2023, which caused a 25% drop in revenue, as one key factor contributing to its downturn, according to the DBJ.
The overall performance of DFW companies on the Fortune 500 is slightly down from last year, when 24 companies made the list, with only 21 companies making the list this year. Forty-seven DFW area companies were included on the expanded Fortune 1000 list, according to DBJ.
As previously reported by The Dallas Express in May, Texas celebrated both Small Business Week and Economic Development Week after separate declarations from Gov. Greg Abbott’s office.
Abbott showcased Texas’s business-friendly environment and economic expansion during a fireside discussion at the New York Stock Exchange Summit in Houston last month.
“People and businesses continue to move to Texas because we offer freedom and opportunities that you can’t get anywhere else, that includes freedom from government overreach, high taxes, and burdensome red tape. … As we head further into the 21st century, Texas will lead the way with an economy built to provide innovators with the tools they need to revolutionize our tomorrow,” said Abbott in a press release.
Here is a complete list of DFW companies that made the 2024 Fortune 500 rankings (each company’s 2023 ranking is listed in parentheses):
9. McKesson (9)
32. AT&T (30)
51. Energy Transfer (43)
59. Caterpillar (68)
86. American Airlines Group (89)
120. D.R. Horton (120)
137. HF Sinclair (107)
138. CBRE Group (135)
159. Southwest Airlines (165)
160. Charles Schwab (175)
195. Tenet Healthcare (215)
198. Kimberly-Clark (199)
234. Texas Instruments (200)
240. Builders FirstSource (172)
249. Jacobs Solutions (277)
265. Fluor (303)
283. Vistra (304)
291. AECOM (310)
368. Yum China Holdings (405)
369. Celanese (396)
438. Commercial Metals (428)