Progress Energy

Industry: Electric Utilities

Fortune Rank: 239

PGN, a holding company, is engaged in the generation, transmission, distribution and sale of electricity in portions of the Carolinas and Florida and natural gas in portions of NC. For the six months ended 6/30/05, revenues rose 10% to $4.53B. Net income from cont. ops. fell 55% to $111M. Results reflect strong results from Progress Energy Carolinas and Progress Energy Florida, partially offset by increased fuel costs.

Progress Energy, Inc. is an energy company located in the southeast region of the United States. Through its subsidiaries, Progress Energy Carolinas, Inc. and Progress Energy Florida, it is engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina, South Carolina and Florida. Through its Competitive Commercial Operations business segment, the Company is involved in non-regulated electricity generation operations. Through its Fuels business segment, Progress Energy is involved in natural gas, coal and synthetic fuel-related activities. Through its Rail Services segment, it engages in various rail and railcar-related services. The Corporate and Other Businesses segment includes telecommunication services, miscellaneous non-regulated activities and holding company operations. In June 2004, the Company sold its partnership interest in Colona Synfuel Limited Partnership, LLLP. In December 2004, it sold certain gas-producing properties.

Progress Energy

Progress Energy is a Fortune 500 company. In 2010 Progress Energy was ranked number 239 on the Fortune 500 list, making it the 239th largest company in the United States when judged by revenue.

Progress Energy achieved revenue of $9,885.00 million in 2010 and earned a profit of $757.00 million.

Progress Energy' rank improves

The company ranking improved in 2010, moving up the Fortune 500 list to 239th compared to 288th in 2009. This was based on its 2009 revenue of $9,186 million (a change of 0 million compared to 2010) and profits of $830 million (a change of $-73 million compared to 2009).

Another point of view

To many investors, profits are more important than the revenue a company earns. If the Fortune 500 was ranked by profits instead of revenue then Progress Energy would be ranked 167th rather than 239th due to its profits of $757 in 2010.

Progress Energy Revenue* Profit* Fortune Ranking

* US$ Million

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