Still No Fortune 500 Company In The Region (BBJ Story)
Greater Baltimore is agonizingly close to being home to a Fortune 500 company once again. T. Rowe Price Group Inc. came in at no. 504 on Fortune's 2020 list of the 500 largest publicly traded companies in America. It's the second year the Baltimore-based money manager has made major gains on the list, rising 15 spots from ranking no. 519 last year.
The company reported revenue of $5.62 billion last year. McCormick & Co. Inc. dropped nine spots to come in at No. 523 with $5.35 billion in revenue last year. Despite its recent struggles, Under Armour (NYSE: UAA), maintained its no. 529 ranking, reporting revenue of $5.27 billion. Sinclair Broadcast Group Inc. recorded the largest jump by Greater Baltimore companies, rising 120 spots to come in at no. 622. The Hunt Valley broadcaster, which closed a $10.6 billion acquisition of Fox regional sports networks last year, saw its revenue grow nearly 39% to $4.24 billion. This marks the eighth year the Baltimore region has been without a Fortune 500 company. That streak started when Exelon Corp acquired Constellation Energy in March 2012 for $7.9 billion.