Pilot plans to expand its charging network to 500 locations with 2,000 charging stations by 2026, reported Berkshire Hathaway in a recent earnings report. The retailer currently provides charging stations for electric vehicles at approximately 130 travel centers through an agreement with General Motors.
Pilot’s revenues declined $9.9 billion (17.4%) in 2024 compared to the full year 2023, reported Berkshire Hathaway. “The decline was primarily attributable to lower average fuel prices and a decline in volumes from non-core fuel activities,” according to the report.
Gross sales margins declined 4.3% in 2024 compared to the full year 2023, attributable to lower diesel margins from lower price volatility. 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.
Pilot sold approximately “11.4 billion gallons of fuel (primarily diesel, gasoline and diesel exhaust fluid) in 2024 through its various company-owned retail locations, third-party arrangements and wholesale businesses. The Pilot-operated joint ventures also sold approximately 900 million gallons of fuel in 2024.”
Pilot operates 677 travel center and 77 fuel-only retail locations across the U.S. and in five Canadian provinces, primarily under the names Pilot or Flying J, through 658 company-owned locations, as well as through 96 locations held in unconsolidated joint ventures.
Pilot and subsidiaries had approximately 29,200 employees at the end of 2024.
Last month, Pilot opened its “largest store to date” in Stanton, Tennessee, at 20,000 square feet.
“Our new store in Stanton, Tennessee, is our largest new store build to date and has been thoughtfully designed with the guest in mind. This store is inspired by Pilot’s new brand standards and will serve as a blueprint for store designs in the future. We are excited to add this location to our network and are eager to share more details about this store very soon,” said Jim Rose, VP of operations at Pilot.