Two more Arizona companies join Fortune 500, pushing state total to six

May 21, 2018, 11:25 AM | Updated: May 22, 2018, 9:28 am
(Facebook Photo/ON Semiconductor)...
(Facebook Photo/ON Semiconductor)
(Facebook Photo/ON Semiconductor)

PHOENIX — Six Arizona companies, including two newcomers, made it into the latest edition of the Fortune 500.

The business magazine released the 64th annual version of the list, which is based on revenues from the previous year, on Monday.

The Arizona-based holdovers from the 2017 Fortune 500 were No. 128 Avnet, No. 176 Freeport-McMoRan, No. 296 Republic Services and No. 417 Insight Enterprises.

Scottsdale’s Magellan Health debuted at No. 475, and Phoenix technology company ON Semiconductor cracked the list at No. 492.

“These companies that are on this list, they employ a lot Arizonans,” Garrick Taylor of the Arizona Chamber of Commerce and Industry told KTAR News 92.3 FM. “I think instead of being worried about the number of headquarters here, the fact that we have these good jobs here is something to really be thankful of.”

Avnet, a Phoenix electronics and office equipment wholesaler, fell 20 spots in its 24th year in the Fortune 500 but remained No. 1 among Arizona companies.

Phoenix energy company Freeport-McMoRan, in its 13th year on the list, joined Avnet as the only Arizona businesses in the top 200.

Insight Enterprises moved up 56 spots, giving the Tempe technology business the 22nd-biggest jump among firms from last year’s list.

Retail giant Walmart retained the No. 1 spot that it has held since 2013. Apple was No. 4 in revenue but led the nation in profits.

Walmart’s revenue was above $500 billion, more than double that of second-place Exxon Mobil.

New York had more Fortune 500 companies than any other state with 58, followed by California with 49 and Texas with 48.

KTAR News 92.3 FM’s Kathy Cline contributed to this report.

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Facebook Photo/Brophy College Preparatory)...
Associated Press

Brophy College Prep in Phoenix reports widespread cheating

The principal of Brophy College Preparatory says the prestigious private Phoenix high school has learned of “widespread even pervasive” cheating in its all-male student body.
1 day ago
Clouds pass over drought-stricken Lake Mead on May 10, 2022 in the Lake Mead National Recreation Ar...
Associated Press

Tucson willing to take 20% less water to help Lake Mead shortage

The Tucson City Council included its potential willingness to take 20% less CAP water to keep more in the reservoir.
1 day ago
(Facebook photo / State Farm Stadium)...
Associated Press

Glendale adopts new short-term rental regulations ahead of Super Bowl

Glendale has preemptively adopted rules regulating short-term rental properties before the city welcomes visitors for the 2023 Super Bowl.
1 day ago
(Pexels photo)...

Arizona sees significant jobs increase in April, per employment report

The state of Arizona saw a 13,100 jobs increase in the month of April, according to the Arizona Commerce Authority's monthly report.
1 day ago
(Pexels photo)...

Rio Salado’s Dental Clinic offering free dental work to Arizona’s veterans on Saturday

Arizona's veterans can receive free dental cleanings, dentures, fillings, oral surgery and crowns Saturday at Rio Salado’s Dental Clinic.
1 day ago
A 9mm pistol build kit with a commercial slide and barrel with a polymer frame is displayed during ...

Felon from Arizona convicted of firearm, ammo possession, including ‘ghost gun’

An Arizona felon was found guilty of illegally possessing over 20 firearms, including a “ghost gun,” and thousands of rounds of ammunition.
1 day ago

Sponsored Articles

Day & Night Air

Tips to lower your energy bill in the Arizona heat

Does your summer electric bill make you groan? Are you looking for effective ways to reduce your bill?
Arizona Division of Problem Gambling

Arizona Division of Problem Gambling provides exclusion solution for young sports bettors

Sports betting in Arizona opened a new world to young adults, one where putting down money on games was as easy as sending a text message.
By Dr. Richard Carmona

Now’s a great time to receive your COVID-19 vaccine

If you haven’t received a COVID-19 vaccine yet, now’s the time to join many other of your fellow Arizonans who are doing so right now. No one will criticize you; there is no shame. In fact, you’ll be welcomed with smiles and open arms!
Two more Arizona companies join Fortune 500, pushing state total to six