With nearly $1.4 trillion in revenues, barely a hair under a 50% year-over-year increase, energy companies dominated the 2023 IW U.S. 500 list of the largest publicly traded manufacturing companies in the country, taking the top five positions.
And, it wasn’t just sales. Profitability leapt sharply with Exxon Mobil and Chevron both achieving double-digit profit margins on 14 of the 18 companies on the list posting profits (the number of oil and gas companies fell from previous IW U.S. 500 lists because of new standards instituted for 2023 that reshaped which companies we continued to view as manufacturers).
Digging into the results a bit, the companies producing oil then refining it into gasoline had the strongest results while service companies that make equipment for drilling struggled a bit. The following slideshow highlights the performances of the 10 largest companies in the dominant energy sector from the 2023 list.
2023 IW U.S. 500 Coverage
- IW U.S. 500: Top Biotechnology and Pharmaceutical Companies
- 2023 IW U.S. 500: Top Primary Metals Companies
- 2023 IW U.S. 500: Top Automotive Companies
- 2023 IW U.S. 500: Top Semiconductor and Equipment Companies
- 2023 IW U.S. 500: Top Electrical Equipment and Components Companies
- 2023 IW U.S. 500: Top Industrial Machinery Companies
- 2023 IW U.S. 500: Top Building Materials Companies
- 2023 IW U.S. 500: Top Aerospace and Defense Companies
- 2023 IW U.S. 500: Top Paper and Timber Companies
- 2023 IW U.S. 500: Oil & Gas Production Dominate Manufacturing
- The 2023 IW U.S. 500: A Radically Changed List that Asks Which Top Companies Really Manufacture Anything
- PDF Download of the IW U.S. 500 List
- IW U.S. 500 Rejects: Apple, Nike, Hasbro and 68 Other Companies that Don't Make Their Own Products Removed from Manufacturers List
- IW U.S. 500 Rejects List: Companies Pulled from the List Because They Don't Manufacture Products