Air Cargo Quarterly
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Pilot Freight Services hits $500 million revenue milestone
Pilot Freight Services, a worldwide provider of transportation and logistics services, announced today that it has hit the $500 million revenue mark for the first time, with $500.6 million in revenue for 2012. The company shipped more than 640 million pounds over the year, a nearly 8 percent increase from 2011. “Two years ago we set a lofty goal of reaching $500 million in revenue for 2012, despite being in the midst of trying economic times. Thanks to the hard work and dedication of everyone in the Pilot organization, we achieved that goal,” saidRichard Phillips, chief executive officer of Pilot.
Phillips continued, “While the numbers themselves are exciting, I’m even happier about how we got here. In the last few years, we’ve really focused on our core strength: heavy-weight, expedited freight. To this end, our strategy has included walking away from some very attractive-looking, big revenue accounts. Instead, we’ve gone after business that has made Pilot a stronger company and positioned ourselves for long-term, sustainable growth.”
Pilot saw strong year-over-year growth in several of its business units in 2012, including special services (up 40 percent), home delivery (up 21 percent), national accounts (up 12 percent) and government services (up 11 percent). After opening its first European station in 2011, Pilot expanded its footprint into Canada, establishing a station in Toronto in early 2012. The company expects to continue its international expansion by opening a station in Spain in the first half of 2013.
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