Encouraging freight signs -- for now -- in ATBS annual owner-operator income update

In 2024, finally, as regular Overdrive readers will know, owner-operator income was up on a year-over-year basis. ATBS Vice President Mike Hosted makes that abundantly clear in this week's edition of Overdrive Radio, featuring the business services firm's March 25 update offering an economic outlook for the year ahead as well as lessons within the benchmarking data ATBS dervies from its tens of thousands of owner-operator clients' performance. If you missed our report from the session as MATS got under way, find it via this link: https://overdriveonline.com/15741374 The small boost in average income is certainly a first in what’s been an exceedingly tough three and more years now as freight demand’s declined, revenues and income falling for many owner-operators as costs just rose through much of the period. The 2024 income gain also comes despite even further rates and revenue declines last year, a sure sign that successful owners are tightening the operation, increasing fuel efficiency to reduce costs as much as possible. Today in the podcast, we essentially let the tape roll on Hosted’s presentation. You can follow along by downloading Mike Hosted’s slides via this link, or watch the Youtube version up top or on Overdrive's Youtube channel to listen along with the presentation of the slides. Download all the slides from Hosted's presentation via this link: https://www.overdriveonline.com/15741380 Yet another bit of positivity to emerge from the ATBS session had to do with the spot market, particularly for flatbed freight, in year 2025 so far. The moves up and down in the spot indices Hosted sees as particularly valuable as near-term indicators of demand in the market. Though the positivity there is tempered by a big degree of uncertainty made even bigger by the President’s tariff announcements this past week, if the surge in flatbed freight and demand seen so far this year doesn’t just prove to be a result of a kind of importers’ pre-buy to beat a variety of tariffs on goods coming across U.S. borders, we could be headed in a longer-term positive direction. Recent trucking market performance recalls Gary Buchs’ advice around freight, around customer identification and the time to strike, likewise when some measure of a kickstart might truly arise. It came back in late September 2024, before elections’ outcomes were known, and following the fed’s moves to begin to ease off the cost of borrowing with interest rate cuts. Buchs advised to set a calendar reminder for 4-6 months out from the time of the fed's cuts. “Odds are,” he said, “that is about the time business will change, as it takes time for companies to have confidence" to place orders, others to respond to those orders with their own confidence, "and the cards begin to fall and make things move....” Here we are, four-to-six months on. Looking at the stock market since the Trump tariff announcement last week we can’t say business confidence is 100% the rule. Yet flatbed freight’s been moving up, as noted, and a couple weeks back dry and reefer rates and volumes finally joined in. Maybe Buchs was right on the timing. And maybe in the freight economy, things are in fact changing for the better. ATBS is coproducer with Overdrive of the comprehensive Partners in Business playbook for owner-operator careers, start to finish, now in a new online content library format. Browse the new playbook: https://overdriveonline.com/pib