Readers can download all 40-plus slides from Overdrive and ATBS' Friday, March 31, presentation via the page at this link to help follow along with the video of the presentation above.
While gross owner-operator revenue across all segments was up nearly 10% in 2022 compared to 2021, net income was down by the same percentage on average during the year, according to data from its many thousands of owner-operator clients crunched by business services provider ATBS.
This data was presented Friday, March 31, at the Mid-America Trucking Show in Louisville, Kentucky, in an Overdrive’s Partners in Business seminar, accompanying the release of the 2023 edition of the owner-operator business manual co-produced with ATBS.
The biggest reason revenue gains didn't translate to bottom-line income? Fuel costs skyrocketing, of course, but that's not all there is to it. According to ATBS, average gross revenue was up $16,229 last year, while average fuel costs increased $15,726, almost fully offsetting the increased revenue. Additionally, maintenance costs were up, despite a big fall in miles run.
Leased dry van haulers and independents saw the biggest year-over-year gross revenue gains, as shown at the bottom right of this chart. Bars compare averages for the trailing twelve months (TTM) comprising all of 2022 and 2021 at yearend.
