Hotshot income reports

Income screenshots are everywhere in hotshot groups. Most of them are gross revenue from a good week. That's not a lie, but it's not income. This page explains how to read other people's reports critically, how we build an honest one, and gives you the template to build your own.

Method

We don't publish an average hotshot income, because we haven't collected a sample large enough to mean anything, and income varies more by setup and lane than by any average. Instead:

• We show the format of an honest monthly report.
• We show an EXAMPLE month, clearly labeled, built from round numbers to illustrate the math.
• We give you the template to track your own month.
• When owners share reports with permission, we'll publish them here, anonymized, with sample size and dates.

The EXAMPLE month

In our EXAMPLE month, $18,900 gross became $8,930 before taxes: costs took about 53% of revenue.

Cite or embed this

TruckQuick. "Hotshot income reports." https://truckquick.com/guides/hotshot-income-reportsCopy citation

<figure><blockquote>In our EXAMPLE month, $18,900 gross became $8,930 before taxes: costs took about 53% of revenue.</blockquote><figcaption>Source: <a href="https://truckquick.com/guides/hotshot-income-reports">TruckQuick, Hotshot income reports</a></figcaption></figure>Copy embed code

In this EXAMPLE, the all-in rate was about $2.17 per mile (gross divided by all 8,700 miles) and the cost was about $1.15 per mile. Income and self-employment taxes come out of the $8,930.

Download the income report template (CSV). The first row is the EXAMPLE month; replace it with yours.

Building your report, step by step

1. List every load for the month from your rate confirmations: date, lane, loaded miles and rate.
2. Add empty miles from your ELD or trip records, so the mileage is complete.
3. Total the gross from the rate confirmations, not from what's been paid so far.
4. Pull costs from your accounts: fuel card, bank and credit card statements, insurance and loan statements.
5. Spread big yearly costs like registration, permits and tire sets across the months they cover.
6. Calculate net, all-in rate and cost per mile.
7. Write two lines of notes: what went well and what didn't.

It takes about an hour once the habit is set, less if you keep receipts organized during the month.

How to read someone else's report

• Is it gross or net? Gross is the easy number to share.
• Is it a week or a month? One week can be the best of the year.
• Are all costs in? Look for the truck payment, insurance, repairs, tires and fees.
• How many miles, and how many empty? A big gross on huge miles can be a thin margin.
• What's the setup? CDL or not, truck, trailer, lanes and season all matter.
• Is there a date? Markets move.

Reading the EXAMPLE line by line

Fuel is the biggest cost, at about 16% of gross. Insurance and the two equipment payments together take another 19%. Repairs, maintenance and tires add 7.7%, which is a realistic share once the factory warranty is gone. Fees take 7%. Small lines like tolls, permits and software add up to about 3%. Seeing each line as a share of gross makes it easy to spot which one is out of line when you compare months.

What moves the numbers

Empty miles, rate per mile, weight, season, lanes, fixed costs and luck with repairs. In the EXAMPLE, cutting empty miles from 1,500 to 800 would save roughly $250 in fuel alone and free a day or two for another load. A $4,000 repair in the same month would cut net by nearly half.

Using the report to make decisions

The report earns its keep when you act on it. If all-in rate per mile is falling while loaded rates hold steady, empty miles are growing: look at lanes and reloads. If cost per mile jumped, find the line that moved, usually repairs, fuel or insurance. If net is fine but hours were brutal, the business may be relying on too many miles. Compare at least three months before making big changes like a new truck, a new trailer or a new home base, so one odd month doesn't drive the decision.

Taxes and set-asides

Net before taxes isn't take-home pay. Owner-operators pay income tax and self-employment tax and usually make quarterly estimated payments. Add two lines to your report: what you moved to a tax account and what you moved to a repair fund. If net after those set-asides is less than you need to live on, the business needs a higher rate, lower costs or more paid miles, and it's better to find that out in month three than in month twelve.

Weekly snapshots, monthly truth

A weekly check of gross and miles keeps you on track, but monthly totals are what count. Insurance, truck payments and big repairs land on specific dates, and broker payments arrive weeks after delivery. A monthly report built from rate confirmations and statements smooths that out and gives you numbers you can compare month to month.

How to raise net

1. Know your cost per mile and refuse loads below your floor.
2. Cut empty miles with reload planning.
3. Build repeat brokers and direct customers. See hotshot brokers and hot shot contracts.
4. Control fixed costs: insurance shopping, sensible equipment, a repair fund. See hot shot insurance.
5. Track monthly and adjust.

Set your floor and target with the hotshot rate calculator. More on the work in our hotshot guide.

Comparing CDL and non-CDL months

If you're weighing a switch, the report is the best tool for it. A non-CDL month often shows lower costs (lighter trailer, no testing program, sometimes lower insurance) and lower gross because fewer, lighter loads fit. A CDL month often shows higher gross from heavier freight and higher costs. Build both versions from realistic loads on your lanes and compare net, not gross. The do you need a CDL to hotshot guide covers the rules.

Seasons in your reports

Expect your monthly reports to move with the seasons. Construction freight slows in northern winters, harvest brings farm equipment, energy activity rises and falls with prices and year-end brings rush freight. A year of reports shows your region's pattern, which helps you plan time off for slow months and build a cash cushion before them.

What a good report doesn't show

Numbers don't show hours, stress or time away from home. Add a line for days on the road and hours worked. A month that nets well but kept you out 28 days may not be the business you want. The best report helps you decide what kind of month to aim for, not just whether you made money.

Sharing your report

If you'd like your monthly report included when we publish owner data, send it through our contact page. We'll publish only anonymized figures, with your setup and month, and only with your permission.

Dispatch and your monthly report

With hotshot dispatch, you get a weekly report of every load, its rate, miles and the fee, which makes your monthly report easy. You approve every load, and the broker sends the rate confirmation straight to you.