COLUMBIA -- Scana Corp., the Cayce-based energy giant, fell sharply in the latest rankings of the Fortune 500 publicly traded companies.
Scana, the only company based solely in South Carolina to make the list, ranked 489, down 44 places from last year.
The drop was 49th worst in the rankings based on annual revenue. Scana's revenue slid 20 percent last year on higher energy costs.
Still, Scana, the owner of South Carolina Electric & Gas, earned a small profit by cutting costs, freezing raises and trimming staff.
Jimmy Addison, Scana's chief financial officer, said it was nice to be included in the Fortune 500 but that being added to the Standard & Poor's 500 index last year was "a better reflection of our financial stability."
"We're focused on maintaining our position in the eyes of the marketplace as a solid investment," he said.
The Fortune 500 included two Montreal-based companies with U.S. headquarters in South Carolina, paper makers Domtar and AbitibiBowater.
Domtar, which has its U.S. headquarters in Fort Mill, was ranked at 383. The company moved up from 390th last year, despite revenues sliding 14.5 per-cent.
AbitibiBowater, which operates out of Greenville, landed at 472, down nearly 100 spots after losing $1.6 billion last year and seeking bankruptcy protection. The paper maker's loss was 20th worst among all the Fortune 500.
South Carolina has had at least one publicly traded company on the Fortune 500 list for all but four years since it was first published in 1955. The height came in 1990 when five state-based companies were in the rankings.
This year, Wal-Mart bested Exxon Mobil for the top spot in the Fortune 500 as the oil powerhouse's revenues tumbled 36 percent last year.
They were followed by Chevron and General Electric.
Charlotte-based Bank of America rose to fifth from 11th as its revenues surged 33 percent.
Revenue for all the 500 companies fell 8.7 percent, the biggest slide in 26 years, Fortune said.
But earnings exploded by 335 percent, the second biggest yearly spike in the list's 56-year history, the magazine reported. Profits ballooned as Fortune 500 companies shed more jobs than ever before, cutting 821,000 workers in 2009.