Seven Northeast Ohio companies in the Fortune 500 collectively employed 227,287 and raked in $90.3 billion in revenues in 2014.
CLEVELAND, Ohio -- This year's Fortune 500 ranking of the largest U.S. corporations includes seven companies who call Northeast Ohio home: Progressive, Goodyear Tire & Rubber, FirstEnergy, Parker Hannifin, Sherwin-Williams, TravelCenters of America, and J.M. Smucker.
Those companies collectively employed 227,287 and raked in $90.3 billion in revenues in 2014.
That's still far shy of the No. 1 company for the third straight year, Walmart Stores Inc., with $485.7 billion in revenues, $16.4 billion in profits, and 2.2 million employees worldwide.
This year's Fortune 500 companies generate "$12.5 trillion in revenues, $945 billion in profits, $17 trillion in market value, and employ 26.8 million people worldwide," according to the magazine.
Of the 23 Ohio companies on the list, the top-ranked is Cincinnati-based Kroger Co., ranked No. 20 on the Fortune 500. The Motley Fool says Kroger's recent growth has outpaced grocery rivals Walmart Stores, Whole Foods and Costco Wholesale Corp.
The seven Northeast Ohio companies are ranked:
No. 153: Progressive Group of Insurance Companies, based in Mayfield Village, with $19.4 billion in 2014 revenues and 26,501 employees.
Progressive Chief Executive Glenn Renwick said via email that "Consistent with our name we endeavor to challenge many of the norms in our industry to create products and services that resonate well with customers and support those offerings with 26,000 engaged employees who aspire to make every customer experience - fast, fair, and most of all easy."
No. 166: Goodyear Tire & Rubber Co., based in Akron, with $18.1 billion in revenues and 67,000 employees.
Goodyear was also lauded among the fastest-growing companies over the past year and over the past decade, in terms of percentage profits per share.
No. 206: FirstEnergy Corp., based in Akron, with 2014 revenues of $15.1 billion and 15,557 employees.
No. 230: Parker Hannifin Corp., based in Mayfield Heights, with revenues of $13.2 for the fiscal year that ended June 30, 2014. Parker, a global leader in motion and control technologies, has 57,450 employees.
No. 266: Sherwin-Williams Co., based in Cleveland, with 2014 revenues of $11.1 billion and 39,674 employees.
The paint manufacturer and retailer was also listed among the most profitable, in terms of return on shareholders' equity.
No. 365: TravelCenters of America, based in Westlake, with 2014 revenues of $7.8 billion and 16,330 employees.
TravelCenters also made Fortune's list of "Most Bang for the Buck," as measured in revenues per dollar of assets.
No. 467: J.M. Smucker Co., based in Orrville, Wayne County, with revenues of $5.6 billion for the fiscal year that ended April 30, 2014. Smucker employed 4,775 at the end of fiscal 2014.
Smucker is likely to climb in next year's rankings, as the magazine's results do not include the company's March 23 acquisition of Big Heart Pet Brands, the largest deal in company history.
Cliffs Natural Resources, one of Cleveland's oldest companies and still the largest U.S.-based miner of iron ore, dropped from No. 445 last year to No. 560 on this year's list. Cliffs in April said first-quarter revenues were down 28 percent to $446 million, and reported a net loss of $759.8 million for the quarter.
And Columbus based discount retailer Big Lots just missed being in the top 500, slipping to No. 501.