Lowe’s overtakes Bank of America as the top Fortune 500 company in the Charlotte area – WSOC TV

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CHARLOTTE—Bank of America Corp. has long claimed the title of highest-ranked society in the Charlotte area on the Fortune 500 list. But this year it was passed in the rankings by Mooresville home improvement retail giant Lowe’s Cos. Inc.

[ALSO READ: Lowe’s kicks off centennial with $10M initiative to give back]

In total, there are nine companies in the greater Charlotte area, 13 in North Carolina and none in South Carolina that made the cut this year. These numbers are all unchanged from the 2021 roster. Fortune ranks companies each year based on total revenue for their respective fiscal years. The list includes public and private companies incorporated and operating in the United States that file financial statements with a government agency. The 68th edition of the economic publication’s ranking was published this morning.

Lowe’s – despite falling four places to No. 35 this year – edged out Charlotte-based Bank of America, which ranked at No. 36 – down seven places from last year’s list . Lowe’s posted revenue of $96.2 billion last fiscal year, up 7.4% year-over-year. Bank of America had annual revenue of $93.8 billion, up just 0.1% on the year.

Read it full story here to see how others fared.

(Watch the video below: Lowe’s “Bucket Brigade” is stocking up on essentials for the anticipated busy hurricane season)

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