Key Points = https://pilotflyingj.com/
- Pilot Company, formerly Pilot Flying J, is a major North American truck stop and travel center chain, headquartered in Knoxville, Tennessee, and owned by Berkshire Hathaway.
- It operates over 750 locations, employs more than 24,000 team members, and serves over a million guests daily, supplying over 14 billion gallons of fuel annually.
- Recent changes include a name change to Pilot Co. in February 2025 and shutting down its oil trading business in January 2025 to focus on North American operations.
Company Background
Overview and Operations
Pilot Company is known for its extensive network of truck stops and travel centers, offering fueling, food, and truck care services. With over 750 locations across 44 U.S. states and six Canadian provinces, it caters to professional drivers and travelers alike. The company, now fully owned by Berkshire Hathaway, reported annual revenues around $5 billion and plays a significant role in the fuel supply chain, distributing over 14 billion gallons of fuel yearly.
Pilot Company is known for its extensive network of truck stops and travel centers, offering fueling, food, and truck care services. With over 750 locations across 44 U.S. states and six Canadian provinces, it caters to professional drivers and travelers alike. The company, now fully owned by Berkshire Hathaway, reported annual revenues around $5 billion and plays a significant role in the fuel supply chain, distributing over 14 billion gallons of fuel yearly.
History and Ownership
Founded in 1958 by James Haslam II in Gate City, Virginia, Pilot Company has grown through organic expansion and strategic acquisitions, including a merger with Flying J in 2010. In January 2024, Berkshire Hathaway acquired the remaining 20% stake, solidifying its ownership. This transition marked a significant milestone, reflecting the company's evolution from a family business to a major corporate entity.
Recent Developments
In February 2025, Pilot Flying J rebranded to Pilot Co. to better align with its expanded retail and energy operations. Additionally, in January 2025, the company closed its international oil trading business to focus on its core North American travel centers, a move that involved letting go of most international traders. This shift highlights a strategic refocus on its primary market.
In February 2025, Pilot Flying J rebranded to Pilot Co. to better align with its expanded retail and energy operations. Additionally, in January 2025, the company closed its international oil trading business to focus on its core North American travel centers, a move that involved letting go of most international traders. This shift highlights a strategic refocus on its primary market.
Detailed Report on Pilot Company
Pilot Company, previously known as Pilot Flying J, stands as a prominent player in the North American travel center and truck stop industry. This report provides a comprehensive overview, drawing from various reliable sources to ensure accuracy and depth, reflecting the company's status as of March 17, 2025.
Company Profile
Pilot Company is headquartered in Knoxville, Tennessee, and is fully owned by Berkshire Hathaway, a multinational conglomerate led by Warren Buffett. The company operates under several brands, including Pilot Travel Centers, Flying J Travel Plaza, ONE9 Fuel Network, and Mr. Fuel, offering a range of services such as fueling, food and beverages, and truck care. It is the largest operator of travel centers in North America, with a network spanning over 750 locations across 44 U.S. states and six Canadian provinces. This extensive reach serves over a million guests daily, underscoring its significant market presence.
Key operational statistics include:
- Employment: More than 24,000 team members.
- Fuel Supply: Over 14 billion gallons of fuel distributed annually.
- Revenue: Approximately $5 billion annually, based on recent reports.
The company's focus on serving professional drivers and travelers is evident in its infrastructure, which includes travel centers designed to meet the needs of long-haul truckers and road travelers, offering amenities like parking, dining, and maintenance services.
Historical Context
Founded on November 20, 1958, by James Haslam II, Pilot Company began as a single gasoline station in Gate City, Virginia. By 1965, it had expanded to 12 stations, selling 5 million gallons of fuel yearly. The company built its first convenience store in 1976 and its first travel center in 1981, marking a shift toward its current focus on travel centers. Over the decades, Pilot grew through organic expansion and strategic acquisitions, notably merging with Flying J in 2010, which significantly expanded its network.
A pivotal moment came in 2017 when Berkshire Hathaway acquired a 38.6% stake for $2.76 billion, increasing to 80% by 2023, and finally taking full ownership in January 2024 by acquiring the remaining 20% interest. This transition from a family-owned business to a Berkshire Hathaway subsidiary reflects its growth into one of the largest private companies in the U.S., previously ranked fifth before the acquisition.
Recent Developments and Strategic Shifts
In February 2025, Pilot Flying J announced a rebranding to Pilot Co., aiming to unify its retail and energy operations under a single corporate identity. This change, as stated by CEO Jimmy Haslam, is part of preparing for the next phase of growth, emphasizing innovation and expansion in fuel supply and distribution across North America (Pilot Flying J Is Changing Its Name).
A significant strategic shift occurred in January 2025, when Pilot Co. shut down its international oil trading business. This decision, reported by Reuters, involved letting go of most international oil and fuel traders, ending an excursion into global markets to refocus on its core U.S. travel center operations (Exclusive: Warren Buffett's Pilot Co shuts oil trading business, sources say | Reuters). Gary Hoogeveen, President of Pilot Energy, emphasized the company's core capabilities in delivering reliable fuel supply to travel centers and wholesale customers across North America, indicating a return to its foundational strengths.
Executive changes also marked 2024, with the president of the energy business, Brad Jenkins, and the petroleum marketing chief, Bill Cashmareck, leaving the company in January, following Berkshire Hathaway's majority control. This shakeup, reported by Reuters, reflects ongoing adjustments post-acquisition (Pilot energy business president, marketing chief out in shakeup | Reuters).
Expansion and Operational Enhancements
Pilot Co. has continued to expand its physical presence, opening 10 new travel centers in 2023 and welcoming more than 20 dealer locations. These new stores were strategically located along major routes in key markets, such as Arizona, California, and Texas, enhancing accessibility for its customer base (Pilot Co. - CSP Daily News). Additionally, the company launched its "New Horizons" initiative, a $1 billion remodel program started in 2022, with over 100 completed remodels by late 2023, adding another 75 locations to the plan, totaling nearly 200 remodeled sites. This initiative aims to modernize facilities and improve customer experience, reinforcing its leadership in the travel center industry.
Financial Performance
Financially, Pilot Co. has seen significant growth, with revenues jumping from about $20 billion in 2017 to over $36 billion in the first nine months of 2024, though pre-tax earnings declined to about $486 million in the same period, according to Berkshire Hathaway's latest quarterly report (Warren Buffett's company now fully owns a truck-stop chain that was the 5th-largest private company in America - Business Insider). This performance underscores its scale but also highlights challenges in maintaining profitability amidst market dynamics.
Industry Position and Future Outlook
As the largest operator of travel centers, Pilot Co. holds a dominant position in the industry, competing with other chains like Love's Travel Stops. Its focus on North American operations, particularly post the oil trading shutdown, suggests a strategy to consolidate and strengthen its market leadership. The rebranding to Pilot Co. and ongoing expansions indicate a forward-looking approach, aiming to adapt to evolving industry trends and customer needs.
Summary Table of Key Metrics
Metric | Details |
|---|---|
Headquarters | Knoxville, Tennessee, USA |
Ownership | Fully owned by Berkshire Hathaway (since 2024) |
Number of Locations | Over 750 (44 U.S. states, 6 Canadian provinces) |
Employees | More than 24,000 team members |
Annual Fuel Supply | Over 14 billion gallons |
Annual Revenue (approx.) | $5 billion |
Daily Guests Served | Over 1 million |
Recent Rebranding | To Pilot Co. (February 2025) |
Oil Trading Business Status | Shut down (January 2025) |
This detailed report encapsulates Pilot Company's evolution, current operations, and strategic direction, providing a holistic view for stakeholders and interested parties as of March 17, 2025.
Key Citations
