Jan 10, 2024
How Do Trucking Companies Make Money? 🚚
What we’re showing
The average truckload carrier’s revenue and expenses per mile in the U.S. This data comes from a J.P. Morgan analysis featured in a 2024 report by Global X (see data source tab).
Key takeaways
- The average carrier earns an operating profit of 16 cents per mile.
- 43% of expenses are driver-related (wages and benefits).
Looking to the future
Because a large share of expenses are driver-related, autonomous trucking could greatly increase companies’ margins.
A small number of U.S. companies are focused on autonomous trucking, including Kodiak Robotics, Aurora Innovation (NASDAQ: AUR), and TuSimple (NASDAQ: TSP).
Dataset
| Category | Component | $ per mile |
|---|---|---|
| Revenue | Revenue per Mile | 1.98 |
| Expense | Fuel | -0.43 |
| Expense | Truck Payments | -0.27 |
| Expense | Repairs | -0.17 |
| Expense | Insurance Premiums | -0.08 |
| Expense | Permits & Licenses | -0.02 |
| Expense | Tires | -0.04 |
| Expense | Tolls | -0.03 |
| Expense | Driver Wage | -0.6 |
| Expense | Driver Benefits | -0.18 |
| Total Expenses | -1.82 | |
| Operating Profits | 0.16 |
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