My numbers as an O/O leased to Crete

Discussion in 'Ask An Owner Operator' started by jdrentzjr, Jan 3, 2009.

  1. jdrentzjr

    jdrentzjr Road Train Member

    1,800
    1,463
    Nov 29, 2007
    All over the USA
    0
    January 8, 2011

    John, following you will find your December 2010 monthly financial statement.
    The December numbers represent your final financial statement for 2010. They
    should agree with Schedule C of your federal income tax return although there
    may be some adjustment as additional income tax information is received.

    In looking at the December financials, you are showing a Net Profit of $79,483 for
    the year-to-date period. This comes out to $0.560 cents per mile and is based
    on 142,026 paid miles. Your Net Profit increased $24,477 from last year due
    primarily to improved productivity and less depreciation expense.

    You are averaging 11,836 paid miles per month this year compared with 11,141
    monthly miles you averaged last year. You were out on the road 320 days
    through the end of December 2010 (88% in service) and averaged 444 miles for
    each day you were out. By comparison you were out on the road 325 days last
    year and averaged 411 miles/day. You were out 5 less days however, your daily
    productivity improved by 33 miles/day resulting in 8,333 more paid miles in 2010
    versus 2009.

    Your maintenance expense for 2010 was $11,759 or $0.083 cpm and your
    tractor supplies expense was $907 or $0.006 cpm. Together your variable
    tractor expenses end the year in line with expectations and comparable with your
    2009 cost of $0.093 cpm.

    Fuel costs averaged $0.418 cpm less fuel surcharge reimbursements of $0.275.
    This results in a net fuel cost of $0.143 which is a very good net fuel cost and
    almost identical with your 2009 net fuel cost of $0.144.

    Your tractor depreciation expense for 2009 was $9,280 or $0.065. You are in the​
    fifth and final year of a five year depreciation schedule for your tractor.

    I averaged $1.294 cpm for Dec. and $1.269 cpm for the year.

    This may be the last posting of my financials as I am being forced to find another CPA. My current one has sold his business to ATBS. :smt022
     
    BigJohn54, Jarhed1964, Dryver and 3 others Thank this.
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  3. Jarhed1964

    Jarhed1964 Road Train Member

    2,827
    1,562
    Jun 22, 2007
    Charlotte, NC
    0
    Close to $80k in pre-tax pay and 45 days off. Not bad. Not bad at all!


    :biggrin_25514:
     
    jdrentzjr Thanks this.
  4. nevuloso

    nevuloso Bobtail Member

    8
    1
    Jun 24, 2010
    buffalo,ny
    0
    congrats nice year for you hopefully your numbers double for next year lol
    hope you get a new cpa and continue making your post the are so usefull
    and lets the newbies know what there going in to.i like that you dont sugar coat all
    your stuff and post all with facts

    may god bless you and your family happy trails drive safe
     
    jdrentzjr Thanks this.
  5. q in sac

    q in sac Light Load Member

    202
    57
    Jul 12, 2010
    Sacramento, CA
    0
    John, I'm interested in the specs of your truck. I know it an international, sky rise. What year is it? and how is the maintenance on it? So far from the signature, it looks clean.
     
  6. Big John

    Big John Road Train Member

    2,022
    1,521
    Oct 7, 2006
    Oklahoma
    0
    I hope you find a good CPA one that is good or better then the one you have had. I hope you will run far and away from ATBS they are bad news. I hope you keep posting your numbers.
     
  7. jpminc

    jpminc Bobtail Member

    21
    1
    Oct 3, 2010
    CA
    0
    U mentioned there r a few companies u would potentially do better with but not enough to make the jump. Which companies would those b? U have any thoughts on Mercer?
     
  8. Travelinman

    Travelinman Medium Load Member

    420
    127
    Mar 22, 2010
    0

    From my research, Mercer seems like a good company. Lots of drivers have good things to say about them. They'll keep you hopping, especially now while frieght is plentiful.

    The thing you have to keep in mind is, should the economy slow, Mercer's freight could take a harder hit than van and reefer companies. But while freight is up, you stand to make more money at Mercer, i believe.
     
  9. jdrentzjr

    jdrentzjr Road Train Member

    1,800
    1,463
    Nov 29, 2007
    All over the USA
    0
    It is a 2007 with a 2006 Cummins ISX 435. The maintainance has been not to bad considering it is an EGR engine. All other components have worn at normal rates. Over all it has been a good truck.
     
  10. jdrentzjr

    jdrentzjr Road Train Member

    1,800
    1,463
    Nov 29, 2007
    All over the USA
    0
    Have you had a bad personal experience with ATBS?
     
  11. jdrentzjr

    jdrentzjr Road Train Member

    1,800
    1,463
    Nov 29, 2007
    All over the USA
    0
    The few that I would consider are, in no particular order, Bruce Oakley, Fremont Carrier Corp., and Schnieder National via their Choice Program. There are others like Cargil and Refrigerated Foods Express, but the problem with the later companies, and Schnieder as well, is that they pay on a percentage bases. And living in SOTEX I would take a tremendous hit in the wallet when it comes time to leave the house.

    When I talk NET profit with an operator leased to any of the afore mentioned companies, or any other company, they the same as me. So the only reason for me to leave is for a better opportunity for home time, and living in SOTEX their all about the same with the exception of Oakley and possibly FCC.

    I'm not to motivated to go to Oakley because there is some extra wear/tear issues due to the type of hauling (end dump). FCC I'm considering heavily if I can get regular hometime with productivity confirmed.

    As for Mercer, or any other flatbed company paid on percentage, does not make economic sense in SOTEX. Besides,I'm not the flatbed type.
     
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