By GREGORY ZELLER //
Long Island’s only Fortune 500 company is actually a little more Fortune-ate than it was last year – thought its success is based on anything but luck.
Melville-based global distributor Henry Schein Inc. – a stalwart supplier of the medical, dental and animal health industries – claims the 238th spot in Fortune magazine’s 64th annual list of America’s largest corporations, released Monday. That’s a five-spot jump from the company’s 2017 ranking.
Henry Schein thus marks 15 straight years on the Fortune 500 list, which ranks firms based on reported revenue (both publicly traded companies and private companies whose revenues are publicly available).
The Melville distributor qualified with reported net sales of $12.5 billion – up nearly 8 percent from the $11.6 billion that earned it the No. 243 spot on the 2017 list and a titanic leap from the $4.1 billion the company earned to first crack the Fortune 500 list (at No. 487) in 2004.
Chairman and Chief Executive Officer Stanley Bergman said Monday his company, founded in 1932 and publicly traded since 1995, was “pleased to attain our highest-ever ranking on the Fortune 500.”
Henry Schein, which earlier this month reported net first-quarter FY2018 sales of $3.22 billion (up 10.2 percent from the $2.92 billion reported for the first quarter of FY2017), made several progressive moves in 2017 to bolster its bottom line, including the undisclosed settlement of a two-year-old antitrust lawsuit in June and the December acquisition of Atlanta-based veterinary-software specialist eVetPractice.
“Our more than 22,000 Team Schein members remain more committed than ever to leveraging our strengths, forging new partnerships and building on the trust that will allow us to ‘help health happen’ for years to come,” Bergman said in a statement.
With reported 2017 revenues of $500.3 billion and $5.4 billion, respectively, Arkansas-based Walmart and Ohio-based Cintas Corp. bookend this year’s Fortune 500, which includes a number of interesting takeaways.
Among them: America’s most valuable and profitable company, California-based Apple ($850 billion in market cap and $48 billion in profits), did not record the highest 2017 revenues. The computer and electronics giant reported only $229.2 billion in sales, good for just fourth on the 2017 Fortune 500 list.
Washington State-based Amazon cracked the list’s top 10 for the first time, with $177.8 billion in revenues pegging the company as the country’s eighth-largest enterprise.
California-based Tesla Inc. was the 2017 list’s biggest climber, jumping 123 spots to land at No. 260 ($11.7 billion in reported revenues), while Connecticut-based Xerox suffered the biggest plunge, dropping 129 spots to No. 291 ($10.2 billion).
And that $5.4 billion reported by Cintas to claim the No. 500 spot set the list’s highest-ever low-water mark, raising the threshold for making the Fortune 500 by 6 percent.
Also a member of the elite S&P 500 and Nasdaq 100 stock indexes, Henry Schein easily outpaced Long Island’s other largest companies, including Lake Success-based Broadridge Financial Solutions ($4.1 billion in 2017 revenues, ranked No. 592 by Forbes), Melville-based MSC Industrial Direct ($2.88 billion, No. 749) and Lake Success-based Hain Celestial Group ($2.85 billion, No. 760).