June 2022 Financials | Episode 107
June 2022 made for the third tough month in a row for financials. With that being said, I am a bit more optimistic about July than I was about May or June. We also have a pretty exciting development that we are going to talk about. Listen to the episode and Craig and I will talk all about it.
What To Expect From Episode 107
There is a lot going on in June’s numbers that are not really apparent just by looking at the raw data. This is a good episode to listen to so you get a full picture. For starters, we had two new trucks come online in June and that impacted the numbers in several ways.
- Total miles ran – 64,759 (More than the last several months, because we had two new trucks run part of the month, but we also had a couple of drivers take a bit more time off than normal, summer vacations)
- Deadhead miles – 4,102 (6.3%, creeping up a bit)
- Total revenue – $142,631.51 (about the same as last month, but that includes about $22k in revenue from trucks 6 & 7)
- All-in rate-per-mile – $2.20 (Lowest it has been in a long time, so far July is feeling a little bit better, but that is just what my gut is saying, we will see the truth when the numbers come out)
Haulin Assets realized a profit of $7,207.19.
Profit & Loss Sheet
Listen to the Full Episode
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[…] Assets founder Chris Vernon discussed bringing two additional trucks online over the past month in this recent June 2022 Financials episode of the Haulin’ Assets podcast. Business growth is still possible and weathering the storm of […]
Your episodes are exactly what I need? I ordered several books on establishing a trucking company and none of them come close! I do have a question, which is: I’ve been told by friends in the logistics industry who know both asset based business (trucking) and brokerage. They recommend brokerage over assets. I’d love your opinion on that. Also, they tell me mileage rates (your fees) are going down as you’ve also said, however, they also said they’ve sold excess trucks for cheaper than they wanted to which leads me to believe there are definite opportunities in the truck ownership… Read more »
Great question Peter. There are pros and cons to starting a brokerage before an asset based trucking company and vice versa. One thing I can tell you for sure. It seems like shippers are leaning more and more towards giving business directly to trucking companies or brokerages that also have assets. Companies with assets almost always get preference.
[…] to guard against future financial troubles is to pay down your debts when the money is good. In a recent podcast episode, Chris examined how working aggressively to eliminate debt after a big month can reap exponential […]