Owner-ops worked harder to make less money in 2016, and that’s good news?
Based on the annual analysis of data collected from its clients, ATBS reports that the average net income in 2016 was on average $59,699 for leased owner-operators and $60,577 for independent owner-operators. These figures are down slightly from 2015, when leased owner-operators averaged $61,167 and independents earned $63,375. However, in 2016, owner-operators drove an average of 1,078 more miles than in 2015.
“Owner-operators were truly stuck in neutral in 2016,” says ATBS President and CEO Todd Amen. “They worked harder to make almost as much money. But when you think about the struggles, how difficult freight was, you see a lot of truck lines had earnings down 25%-50%. So the fact the owner-operator population in a difficult year only lost 2.5% of their net income is a pretty good thing.”
ATBS provides consulting, tax, and bookkeeping services to over 20,000 owner-operators. By providing these services, ATBS has been able to track and analyze financial trends in the trucking industry since 2003.
To better understand the marketplace, and how compare to other truckers, ATBS has scheduled a conference call Wednesday at noon Eastern/9 AM Pacific to discuss the results of the 2016 benchmarking study. Click Here to Register.
During the conference call, Amen will provide insight on the analysis of miles driven, net income, fuel mileage, and freight rates. Amen will also share his thoughts on the potential future impact of ELDs on the owner-operator population.
In response to last year’s dip in income, Amen strongly recommends that owner-operators work with a financial consulting firm such as ATBS to help increase their profits in 2017.