These are the seven largest companies headquartered in Pennsylvania by 2021 revenue.
#1 AmerisourceBergen ($221 Billion)
Summary: AmerisourceBergen is not only a mouthful but also a drug wholesale, distribution, and consulting company headquartered in Conshohocken that generated $221 billion in revenue.
AmerisourceBergen (NYSE: ABC) is first and foremost a pharmaceutical wholesale distributor (buying from manufacturers and reselling to pharmacies, medical clinics, and other customers). However, the company engages in numerous other businesses. Somewhat confusingly, some of those other businesses such as selling data analytics and consulting services to biotech and pharma companies are still reported under the “pharmaceutical distribution” reporting segment in the company’s financial filings.
Largest Customers:
- WBA (31% of revenue)
- Express Scripts, Inc. (12% of revenue)
Largest Competitors:
- McKesson Corporation
- Cardinal Health, Inc.
- UPS Logistics
| Official Company Name | AMERISOURCEBERGEN CORPORATION |
| State of Incorporation | Delaware |
| Address of Principal Executive Offices | 1 West First Avenue Conshohocken, PA 19428 |
| Annual Report (FY ending Sept 30, 2021) | 10-K |
| Investor Relations Website | Investor Relations |
#2 Comcast ($116 Billion)
Summary: This internet service & entertainment company owns Xfinity internet, the NBC networks, the Universal Studios production company and theme parks, and the streaming service Peacock.
The company reports its business in five segments:
- Comcast Communications — Consists of Comcast Cable (a provider of internet service to residential customers and additional services to business customers)
- Media — Consists primarily of NBCUniversal’s television and streaming platforms (including its cable networks), the NBC and Telemundo broadcast networks, NBC and Telemundo owned local broadcast TV stations, and Peacock
- Studios — Consists primarily of NBCUniversal’s film and TV studio production & distribution operations
- Theme Parks — Consists primarily of the Universal theme parks in (1) Orlando, FL, (2) Hollywood, CA, (3) Osaka, Japan, and (4) Beijing, China
- Sky — Consists of the operations of Sky (a European entertainment, content production, TV network, and internet and phone service company)
The company generated $116 billion in revenue and $13.76 billion in comprehensive income attributable to Comcast common stockholders.
| Official Company Name | COMCAST CORPORATION |
| State of Incorporation | Pennsylvania |
| Address of Principal Executive Offices | One Comcast Center Philadelphia, PA 19103 |
| 2021 Annual Report | 10-K |
| Investor Relations Website | Investor Relations |
#3 Kraft Heinz ($26 Billion)
Summary: This multinational food & beverage company owns a huge portfolio of brands from Jell-O to Lunchables to Caprisun to Heinz ketchup. The company has a secondary headquarters in Chicago but its official SEC-registered headquarters is in Pittsburgh.
Kraft Heinz (NASDAQ: KHC) is multinational holding company for various food and beverage brands. In 2021, the company reported its business financials via three geographic business segments:
- United States
- Canada
- International
However, during Q4 2021, the company reorganized and going forward will only use two reporting segments:
- North America (encompassing both the old United States and Canada segments)
- International
Key 2021 financial numbers are summarized in the table below:
| Net sales | $26.04 Billion |
| Cost of products sold | $17.36 Billion |
| Gross profit | $8.68 Billion |
| Operating income | $3.46 Billion |
| Net income attributable to common shareholders | $1.01 Billion |
| Comprehensive income attributable to common shareholders | $1.16 Billion |
Corporate Information:
| Official Company Name | The Kraft Heinz Company |
| State of Incorporation | Delaware |
| Address of Principal Executive Offices | One PPG Place Pittsburgh, PA 15222 |
| 2021 Annual Report | 10-K |
| Investor Relations Website | Investor Relations |
#4 Rite Aid ($24 Billion)
Summary: In addition to its Rite Aid branded retail pharmacy stores, the company also owns the Bartell Drug stores and Elixir — a pharmacy benefits manager (which is a company that negotiates pricing with drug manufacturers on behalf of health insurance companies or other payers).
Rite Aid (NYSE: RAD) organizes its business into two segments:
- Retail Pharmacy — Consists of Rite Aid stores, Bartell Drug stores, and Health Dialog
- Pharmacy Services — Consists of Elixir (a PBM = Pharmacy Benefits Manager)
During the 12-month period ending November 30, 2021, the company generated $24.42 billion in revenue.
| Official Company Name | RITE AID CORPORATION |
| State of Incorporation | Delaware |
| Address of Principal Executive Offices | 30 Hunter Lane Camp Hill, PA 17011 |
| Annual Report (FY ended Feb 26, 2022) | 10-K |
| Investor Relations Website | Investor Relations |
#5 U.S. Steel ($20 Billion)
Summary: Founded in 1901 through a J. P. Morgan-orchestrated merger of the Carnegie Steel and Federal Steel companies, the company today is still one of the largest steel manufacturers in the world. In 2021, the company produced over 26 million tons of steel and generated $20 billion in revenue.
U.S. Steel (NYSE: X) organizes its business into four reportable segments:
- North American Flat-Rolled (Flat-Rolled) — Primarily consists of operating U.S. Steel’s integrated steel plants and North American equity investees involved in the production of slabs, strip mill plates, sheets, and tin mill products. The segment also includes iron ore and coke (the coal-like lumps of carbon, not the beverage) production facilities in the U.S. The main customers of this segment are North American companies in the automotive, appliance, construction, container, transportation, and service center markets.
- Mini Mill — Includes the operation of the Big River Steel facility and a new mill under construction in Osceola, Arkansas. This segment produces hot-rolled, cold-rolled, and coated sheets and electrical products.
- U.S. Steel Europe (USSE) — Includes the operation of U.S. Steel Košice (USSK) in Slovakia and its subsidiaries
- Tubular Products (Tubular) — Consists of U.S. Steel’s tubular production facilities and equity investee in the U.S. The segment produces steel casing and tubing products.
Total revenue in 2021 was $20.275 billion.
| Official Company Name | United States Steel Corporation |
| State of Incorporation | Delaware |
| Address of Principal Executive Offices | 600 Grant Street Pittsburgh, PA 15219 |
| 2021 Annual Report | 10-K |
| Investor Relations Website | Investor Relations (Events) Investor Relations (Financials) |
#6 Lincoln Financial ($19.23 Billion)
Lincoln National Corporation (NYSE: LNC) is a holding company that operates various insurance and investment management subsidiaries. The company generated $19.230 billion in revenue and $1.085 billion in comprehensive loss in 2021.
| Official Company Name | LINCOLN NATIONAL CORPORATION |
| State of Incorporation | Indiana |
| Address of Principal Executive Offices | 150 N. Radnor-Chester Road Suite A305 Radnor, PA 19087 |
| 2021 Annual Report | 10-K |
| Investor Relations Website | Investor Relations |
#7 PNC Financial Services Group ($19.21 Billion)
PNC is a diversified financial company with businesses in retail banking, residential mortgage, corporate and institutional banking, and asset management.
In 2021, the company generated $19.21 billion in total revenue and $3.31 billion of comprehensive income attributable to PNC.
| Official Company Name | THE PNC FINANCIAL SERVICES GROUP, INC. |
| State of Incorporation | Pennsylvania |
| Address of Principal Executive Offices | The Tower at PNC Plaza 300 Fifth Avenue Pittsburgh, PA 15222 |
| 2021 Annual Report | 10-K |
| Investor Relations Website | Investor Relations |