Exxon Dethrones Wal-Mart on Fortune 500

[Tab]

NEW YORK - Skyrocketing energy prices propelled Exxon Mobil Corp. to the top of the 2006 Fortune 500 list, and consigned Wal-Mart Stores Inc. to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies.

Fortune compiled its list based on companies' 2005 revenues. Exxon Mobil raked in $340 billion in revenue, a 25.5 percent increase over 2004, and had $36.1 billion in profits, the most by any U.S. company in history.

Exxon Mobil last appeared at No. 1 in 2001. Only Wal-Mart, Exxon Mobil and General Motors Corp. have topped the list since its inception in 1954.

Wal-Mart had $315.654 billion in revenue, a 9.5 percent increase from last year. Because of its pervasive U.S. presence, the world's largest retailer has struggled to sustain profit growth in the high teens as it had in previous years.

Other oil producers also rose in the rankings, boosted by crude prices that topped $70 a barrel and gasoline prices that surpassed $3 a gallon after hurricanes battered the Gulf Coast.

Both ChevronTexaco Corp. and ConocoPhillips saw their revenues jump in 2005, increasing by 28 percent and 37 percent, respectively. Chevron climbed two spots to No. 4, while Conoco edged up to No. 6 from No. 7 last year.

More: http://news.yahoo.com/s/ap/20060403/ap_on_bi_ge/fortune500


Increase in revenue doesn't mean much if your costs increase accordingly, but the fact that they pulled off $36 Billion in profits means that there's more than just rising gas barrel prices here.

[Double T]

1. And the financial world praises thieves and opportunistic crooks......

for taking advantage of everyone in using a tragedy to reap unjustified profits. The energy industry is on par with looters, the only difference is looters do less damage to our economy and nation.

[ECH1969]

2. Exxon Dethrones Wal-Mart on Fortune 500

Skyrocketing energy prices propelled Exxon Mobil Corp. to the top of the 2006 Fortune 500 list, and consigned Wal-Mart Stores Inc. to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies.

Fortune compiled its list based on companies' 2005 revenues. Exxon Mobil raked in $340 billion in revenue, a 25.5 percent increase over 2004, and had $36.1 billion in profits, the most by any U.S. company in history.

Other oil producers also rose in the rankings, boosted by crude prices that topped $70 a barrel and gasoline prices that surpassed $3 a gallon after hurricanes battered the Gulf Coast.

Both ChevronTexaco Corp. and ConocoPhillips saw their revenues jump in 2005, increasing by 28 percent and 37 percent, respectively. Chevron climbed two spots to No. 4, while Conoco edged up to No. 6 from No. 7 last year.

http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20060403&ID=5614794

[1932]

3. Mission Accomplished!

Break out the flight suits!

BTW, what state will next president be from? I need to know so that I can make my 401k investments.

[saigon68]

4. THE COD PIECE

[Dogmudgeon]

5. It's not a CODPIECE ...

... it's a SECRET TRANSMITTER!

--p!
It's not a codpiece. It's a Concierge!

[corporate_mike]

6. Exxon had more after-tax profits than total revenues for #56

Think about that.

Only 55 companies (including Exxon) had more in revenues last year than Exxon's after tax profit of $36.1 BILLION.

[SemiCharmedQuark]

7. WHY isn't anyone paying attention to this????

I talk with people at work, and they are angry about it. But just angry. They don't associate Bush with it at all.

[sadiesworld]

8. I can't find a dog in this fight...

or at least one to support, as opposed to kick.

(really, I love dogs!)

[Blue_Tires]

9. wow...

and which one of you commie peacenik liberals keep saying that there is nothing good going on in Iraq?:sarcasm:

never forget, the free marketplace and the corporation > all of us.....The corporation and its profit margin will ALWAYS trump political ideology, religion, humanity, cultural and national differences...

[OKNancy]

10. Kick

[Peter Frank]

11. A $340b Year Rockets Exxon to Top of Fortune List...

(beating out Wal-mart for #1):

NEW YORK -- Skyrocketing energy prices propelled Exxon Mobil Corp. to the top of the 2006 Fortune 500 list, and consigned Wal-Mart Stores Inc. to the number two spot on the magazine's annual ranking of the nation's largest publicly traded companies.

Fortune compiled its list based on companies' 2005 revenues. Exxon Mobil raked in $340 billion in revenue, a 25.5 percent increase over 2004, and had $36.1 billion in profits, the most by any US company in history.<snip>

http://www.boston.com/business/globe/articles/2006/04/04/a_340b_year_rockets_exxon_to_top_of_fortune_list

[Peter Frank]

12. Presidential Welfare for the "Entrepreneurs" Seems to be Working...

Doesn't big oil need all the tax breaks it can get?

[acmavm]

13. Doesn't that suggest that the price they charge the American consumer

is a bit too HIGH????

[Robb]

14. Hm. "The most profitable company in the world charges too much."

Seems simple, donnit? :D

[Blue_Tires]

15. ttt one more time

[brentspeak]

16. Exxon chief, Lee Raymond...or Jabba the Hut?

You decide.