The first quarter of 2018 has been much better in terms of revenue and net income for owner-operators.
According to ATBS — the largest owner-operators’ service firm — owner-operators across all trucking segments earned more income in the first quarter of 2018 than they did in the same period last year.
The market has seen a considerable hike in earnings of flatbed trucks, dry vans, and reefer haulers during Q1 2018, especially when compared to the same period last year.
Here is the breakdown of earnings (net income), revenue, and mileage of different types of truckers during the first quarter of this year.
1. Flatbed operators
Flatbedders had been the highest earners in 2017; the trend continued in 2018. During the first quarter this year, flatbedders earned, on average, $17,328.
The average amount ($17,328) is an increase of $2,100 compared to the first quarter of 2017. However, it is a minor dip from the net income in the final quarter of the last year, in which flatbed operators earned $18,875.
Revenue for flatbed operators in the first quarter this year is $41,421, which is $5000 up from same period last year.
Mileage for flatbedders during Q1 2018 was flat at 22,498.
2. Dry van operators
During the first quarter of 2018, dry van operators earned $15,195. It is an increase of $1000 from Q1 2017.
Revenue for dry van operators was $38,299, which was an increase from the first quarter of 2017. However, the average revenue was a hundred dollars down from Q4 2017.
Like flatbed, mileage for dry van operators was flat at 29,924.
3. Reefer haulers
In comparison to flatbedders and dry van operators, reefer haulers didn’t perform as well. They earned $12,671 in Q1 2018 — which is, however, an increase of $1,100 from what they earned during Q1 2017.
The revenue calculated for reefer haulers in the first quarter is $39,713. It is $3,300 higher from the same period last year (Q1 2017).
Mileage for reefer haulers was recorded at 29,924, a decrease from Q1 2017 and Q4 2017.
Because of increased freight demand and tight capacity, rates are rising. Truckers who are in compliance with different rules and regulations are in a much better position to get more contracts and increase their earnings.
For fleets, this is the right time to pay extra attention to driver retention and driver happiness, so they always have enough resources to meet the growing freight demands. For more information on driver retention, read driver recruitment and driver retention are still the biggest concerns.