Six Charlotte-region companies maintained a Fortune 500 ranking this year and another four Fortune 1000 headquarters made the list. While the top companies and orders have changed from last year, Charlotte remains an extremely attractive city for top talent.
What’s even more exciting for Charlotte is that 200 of the Fortune 500 companies committed to placing one or more facilities within the Charlotte region according to CharlotteRegion.com. This year’s list didn’t include the addition of Honeywell to Charlotte and future merger or BB&T and SunTrust. These companies are expected to move up the list in coming years.
Fortune Magazine reveals the 500 largest companies across the U.S. on an annual basis based on the scope, power, and size of the companies. The Charlotte-based Fortune 500 and 1000 companies in 2019 are as follows:
25. Bank of America
Dropping one rank from last year’s list, Bank of America (BOA) posted another solid year with a 54% increase in profits, totaling $28,147 million. BOA employs over 200,000 employees and plans to raise its minimum wage from $15 to $20 in 2020.
Jumping more than 30 spots, Nucor, a steel and steel product manufacturer headquartered in Charlotte, has increased its profits by 79% this year, totaling $2,360.8 million. Nucor employs 26,300 employees and growing.
126. Duke Energy
Duke Energy, a Charlotte based electric power and gas distributor, dropped one spot this year to 126. The distributor provides energy to 7.6 million electric retail customers located in six states with more than 1.6 million customers across give states receiving gas distribution services. Dukes profits have decreased 12.8% since last year’s ranking, coming in at $2,666 million in profits. The company employs 30,083 employees.
316. Sonic Automotive
While Sonic has dropped a few rankings, they’ve maintain solid revenues with a significant profit drop of -44.5%, $51.7 million. Sonic is a Charlotte-based automotive retailer that sells new and used vehicles, replacements part, and provide vehicle maintenance throughout dealerships in 13 states. Sonic employed 9,700 employees in 2018.
342. Brighthouse Financials
This Charlotte-based independent life insurance company is a newcomer to the Fortune 500 list after splitting from MetLife, Inc in 2017. Brighthouse Financials held an $865 million profit this year while employing just 1,260 employees.
555. Sealed Air
Dropping off the Fortune 500 list this year from 456 in 2018, Sealed Air ranks 555 on the list. With a profit change of -76.3%, it’s not surprising the packaging company fell off the 500 list. Sealed Air is based out of Charlotte and employs 15,500 employees.
563. Coca-Cola Consolidated
Coca Cola (Coke), headquartered in Charlotte, jumped from 576 in 2018 to 563 this year. While profits decreased by 120.6%, the company has maintained a positive 7 percent revenue increase of $4,625.4 million. Coke employs 15,200 employees and holds $3,375 million in revenues.
590. JELD-WEN Holding
Building materials company, JELD-WEN Holding jumped from its previous ranking of 325 to 590. The company had a huge increase in profit with a 1,237.8% profit change and a 15.5% revenue increase. The company employs 23,000 employees.
Another company on the list has jumped significantly from 723 last year to 702. Albemarle had a 1,164.5 percent profit change and 9.9% revenue change with $7,581.7 million in assets. The chemical company employs 5,900 employees.
962. SPX Flow
Last but not list, SPX Flow, an industrial machinery company, is making its way up the Fortune 1000 list. Ranking at 962 this year, a 5 spot jump from last year, SPX saw a 7.1% revenue change and employs 7,000 employees.