As of today, Pilot operates more than 670 travel centers and approximately 77 fuel-only retail locations across 44 states and five Canadian provinces. Pilot also sells diesel fuel at over 140 retail locations in the U.S. and Canada through various arrangements with third party travel centers, the company noted in the report published by CStore Decisions.
The goal is to add electric vehicle (EV) charging capabilities to 500 U.S. sites by 2026.
In 2023, Pilot opened charging stations at 18 travel centers through an agreement with General Motors, which will continue through 2026. Additionally, Pilot signed a letter of intent with Volvo during 2022 to develop a nationwide public charging network to support the expansion of battery-powered electric trucks.
While it bolsters its EV network, however, sales saw a decline in 2024. Pilot’s total revenue for 2024 was down $9.9 billion compared to 2023, which the company attributes to lower average fuel prices and a decline in volume from non-core fuel activities.
“Pilot’s pre-tax earnings declined $442 million (41.9%) in 2024 compared to the full year 2023. Gross sales margins declined 4.3% in 2024 compared to the full year 2023, attributable to lower diesel margins from lower price volatility,” Berkshire Hathaway’s report read. “Selling, general and administrative expenses increased 10.3% in 2024 compared to the full year 2023, reflecting increased depreciation and amortization expenses, as well as labor, marketing and maintenance costs. Interest expense declined 30.9% in 2024 compared to the full year 2023, attributable to reduced borrowings and lower rates.”
Proven Track Record
Despite a slower year, Pilot has re-emphasized its commitment to the trends that are shaping the industry, namely technology and EVs. This is just one of the reasons the retailer was recognized as CStore Decisions’ 2024 Chain of the Year.
The turning point for Pilot was March 2022, when the retailer announced its New Horizons initiative — a $1 billion program aimed at rebranding and modernizing up to 400 stores across its network.
“We gather individual feedback from team members and guests for each specific location, and we make the updates based on the feedback,” said Brad Anderson, chief operating officer for Pilot.
While New Horizons was initially focused on elevating foodservice, store design and modernization, the retailer has refocused its attention on the growing EV trend.
“We’re constantly getting feedback from our team and looking for ways to make their jobs more efficient and better. We’re redesigning our buildings to make the activities that they need to do easier and more efficient,” Anderson noted.
This commitment to both internal and external feedback has positioned Pilot for success throughout its nearly 70-year history. The company plans to continue to prioritize site upgrades as the brand evolves alongside the industry.
