No. 20: Sunoco
Industry: Energy
Sales: $41.8 billion
Net Income: $891 million
Surging oil prices aren't necessarily good news for refiners like Philadelphia-based Sunoco (SUN). High prices benefit refiners only when they can pass costs on to consumers of refined products like jet fuel and gasoline. That hasn't been the case recently. Sunoco made money in 2007, but booked a $9 million loss for the last three months of the year—vs. net income of $123 million for the same period in 2006. Still, CEO John Drosdick has held fast to his shareholder-first ethos, hiking the dividend and spending $300 million last year to buy back shares. Sunoco's earnings should rise this summer, as gas prices hit record levels.
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