Fuel, Convenience Well Represented on Fortune 500 List for 2022
By Greg Lindenberg on May 24, 2022NEW YORK — Major oil companies and convenience-store retailers grabbed significant real estate on the 2022 Fortune 500, the magazine’s 68th annual list of the largest corporations in the United States, ranked by revenue for fiscal year 2021.
The top 5 companies held their positions on the list, with Walmart taking the lead spot for the 10th year in a row, generating $5.1 trillion cumulative revenue over that time. At No. 2, Amazon.com saw a 22% jump in revenue, eclipsing the $450 billion mark. In the No. 3 spot, Apple is the most profitable company for the seventh time in eight years, earning $95 billion in profits.
The revenue threshold for 2022 Fortune 500 was $6.4 billion, up 19% from last year. In total, Fortune 500 companies represent two-thirds of the U.S. gross domestic product (GDP) with $16.1 trillion in revenues (up 17%), $1.84 trillion in profits (up 114%), $37 trillion in market value (up 13%) and employ 29.7 million people worldwide.
Exxon Mobil Corp., Irving, Texas, at No. 6, topped the list in terms of oil companies, and Murphy USA, El Dorado, Ark., was the highest-ranking retail fuel and c-store company at No. 293.
ARKO Corp., parent company of c-store retailer and wholesaler GPM Investments LLC, Richmond, Va., made the Fortune 500 list for the first time at No. 498.
The company has completed 20 acquisitions since 2013 and announced its 21st acquisition in early 2022. ARKO has grown from 300 stores to more than 3,000 locations comprised of 1,396 company-operated stores and 1,625 dealer sites to which it supplies fuel.
“We’re incredibly proud to be named to this year’s Fortune 500 list, an important confirmation that our growth strategy, disciplined investment approach and our people continue to deliver excellent results,” said Arie Kotler, chairman, president and CEO of ARKO Corp. “This is a significant achievement since joining NASDAQ less than two years ago, and a testament to our continued success. We will continue to drive growth and execute our strategy to deliver long-term value for our stakeholders.”
Click through to see the industry rankings according to Fortune …
Fortune 500 Oil Company Brands
6. Exxon Mobil (Revenues: $285.64 billion)
Irving, Texas-based ExxonMobil markets fuels through more than 11,300 Exxon- and Mobil-branded gas stations in the United States.
16. Chevron (Revenues: $162.47 billion)
ExtraMile Convenience Stores LLC is a joint-venture franchising company with ownership and governance split between Chevron USA, San Ramon, Calif., and Jacksons Food Stores, Meridian, Idaho. ExtraMile is No. 8 on CSP’s Top 202 ranking of U.S. convenience-store chains by number of company-owned retail outlets. Jacksons is No. 25.
19. Marathon Petroleum (Revenues: $141.03 billion)
Findlay, Ohio-based Marathon Petroleum markets fuels through approximately 7,100 Marathon-branded locations nationwide and nearly 1,500 Arco-branded stations in the western United States, primarily California. It sold its approximately 3,800-unit Speedway retail network to 7-Eleven Inc., Irving, Calif., in 2021.
29. Phillips 66 (Revenues: $114.85 billion)
Houston-based Phillips 66 Co. markets fuels through approximately 7,550 Conoco-, Phillips 66- and 76-branded gas stations in 44 states.
30. Valero Energy ((Revenues: $38.45 billion)
San Antonio-based Valero Energy markets fuel through mora than 7,400 Valero-branded gas stations in the United States.
95. CHS (Revenues: $114.85 billion)
Inver Grove Heights, Minn.-based CHS is an agribusiness owned by farmers, ranchers and cooperatives. The company markets Cenex-branded fuels at more than 1,400 locations across 19 states.
197. HF Sinclair (Revenues: $18.39 billion)
HollyFrontier Corp., Dallas, created HF Sinclair Corp., a new parent holding company, as part of its acquisition of Sinclair Oil Corp. Its marketing business supplies more than 1,300 independent wholesale Sinclair-branded gas stations in 30 states and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country.
Fortune 500 Convenience-Store Chains
240. Murphy USA (Revenues: $15.32 billion)
El Dorado, Ark.-based Murphy USA owns and operates 1,669 stores under the Murphy USA and Murphy Express banners. In early 2021, it acquired QuickChek Corp., which added 157 c-stores in the Northeast.
CSP’s Top 202 ranking: No. 5
280. Global Partners (Revenues: $13.25 billion)
Operating primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gas stations and c-stores under retail brands including Alltown, Alltown Fresh, Convenience Plus, Fast Freddie’s, Honey Farms and Wheels.
CSP’s Top 202 ranking: No. 26
346. Delek US Holdings (Revenues: $10.65 billion)
Brentwood, Tenn.-based Delek US Holdings owns and operates approximately 250 c-stores in Texas and New Mexico. In 2019, Delek US and 7-Eleven Inc. agreed to exit a long-term c-store licensing agreement, and Delek US is rebranding the stores as DK.
CSP’s Top 202 ranking: No. 31
392. SpartanNash (Revenues: $8.93 billion)
Grand Rapids, Mich.-based grocery retailer SpartanNash operates more nearly 40 c-stores with gasoline under the Family Fare Quick Stop, D&W Quick Stop, VG's Quick Stop and Glen's Quick Stop banners.
CSP’s Top 202 ranking: No. 173
445. Casey’s General Stores (Revenues: $7.65 billion)
Ankeny, Iowa-based Casey's operates more than 2,400 c-stores in 16 states.
CSP’s Top 202 ranking: No. 3
461. TravelCenters of America (Revenues: $7.34 billion)
Westlake, Ohio-based TravelCenters of America has more than 275 locations in 44 states under the TA, Petro Stopping Centers and TA Express brands.
CSP’s Top 202 ranking: No. 28
498. ARKO (Revenues: $6.41 billion)
Richmond, Va.-based ARKO’s GPM Investments owns and operates c-store brands including Fas Mart, Shore Stop, Scotchman, BreadBox, Young's, Li'l Cricket, Next Door Store, Village Pantry, Apple Market, Jiffi Stop, Admiral, Roadrunner Markets, Jiffy Food Marts, E-Z Mart, 1 Stop,TownStar, ExpressStop and Handy Mart.
CSP’s Top 202 ranking: No. 6
Fortune 1000
Two retail fuel and c-store companies made it into the Fortune 1000:
634. Par Pacific Holdings (Revenues: $4.71 billion)
Houston-based Par Pacific Holdings owns and operates 90 gas stations and c-stores under the Hele, nomnom and 76 brands in Hawaii, Idaho and Washington
CSP’s Top 202 ranking: No. 104
776. CrossAmerica Partners (Revenues: $3.35 billion)
Allentown, Pa.-based CrossAmerica owns and operates approximately 250 retail sites under brands including Express Lane, Uni-Mart, Joe's Kwik Marts, Rocky Top Markets, Zoomerz, Top Star and Choice Tobacco Outlets.
CSP’s Top 202 ranking: No. 48
Click here to view the full 2022 Fortune 500 and Fortune 1000 rankings, including revenues, profits and more.
And click here to view CSP’s Top 40 update to the Top 202. Watch for the full 2022 Top 202 ranking in the June issue ofCSP magazine and in CSP Daily News.
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