The study divided carriers into seven
categories, with 40 percent hauling more than one type of load. Forty-seven percent of Texas carriers haul dry goods and gener- al materials. Twenty-five percent haul sand, gravel, and aggregate materials, while 24 percent haul oversized loads and 23 percent haul unrefrigerated agricultural products. Twenty-one percent transport household goods and furnishings, 13 percent haul hazardous materials, and nine percent transport refrigerated or perishable goods. In 2013, about 40 percent experienced
increased revenues, while 32.8 percent saw a decline. Another 28.6 percent of respon- dents experienced increased profits over the year before, though only seven compa- nies, or 2.5 percent, reported they had “increased greatly.” Meanwhile, 11.8 per- cent of carriers reported “no profit or loss.” Texas carriers are relatively optimistic
about the future. According to the study, almost half, or 46.1 percent, expected a net revenue increase in 2014, while less than 12 percent expect a decline. Also, 49 percent expected profits to increase 2014, while only 16.2 percent expected a decline. Carriers have become more optimistic each year of the survey since 2011, when only 28 percent expected to see increased revenues. Among carrier types, sand, gravel and aggregate haulers are the most optimistic. Of that group, 57 percent expected 2014 to be more profitable than last year. Many carriers are increasing the
kinds of benefits they offer. The percentage offering vacation, sick pay and paid leave has increased from 27 percent in 2012 to 43 percent in 2014. Thirty-four percent of respondents are offering bonus pay for safety, compared to 23 percent in 2012. Health insurance is now offered by 29 per- cent of carriers, compared to 20 percent just two years ago. However, benefits vary significantly
across types of carriers. Hazardous cargo carriers appear to be offering the most ben- efits, with 39 percent offering health insur- ance and 58 percent offering vacation pay. Refrigerated carriers and oversized load haulers typically offer more benefits than the rest of the other categories. Large carri- ers are more likely than smaller carriers to offer certain benefits, including health
HAZARDOUS CARGO CARRIERS APPEAR TO BE OFFERING THE MOST BENEFITS, WITH 39 PERCENT OFFERING HEALTH INSURANCE AND 58 PERCENT OFFERING VACATION PAY. …
LARGE CARRIERS ARE MORE LIKELY THAN SMALLER CARRIERS TO OFFER CERTAIN BENEFITS, INCLUDING HEALTH INSURANCE (64 PERCENT VS. 27 PERCENT) AND VACATION, SICK PAY AND PAID LEAVE (70 PERCENT VS. 42 PERCENT).
insurance (64 percent vs. 27 percent) and vacation, sick pay and paid leave (70 per- cent vs. 42 percent). The study each year pays special
attention to what it calls its Highly Successful Subgroup (HSS) – carriers with profit margins of at least 10 percent, grow- ing revenues, and at least 11 drivers. In 2014, that totaled 25 carriers, or 15 percent of survey respondents. Twenty have between 11 and 50 drivers, three have between 51 and 100 drivers, and only two
have more than 100 drivers. 13 are inde- pendent carriers, eight are owner-opera- tors, three are non-dedicated private fleets, and one is a dedicated private fleet – roughly the same percentages as the rest of the study’s respondents. How do HSS carriers differ from the
rest of the pool? Thirty-six percent use only employee drivers, compared to 56 percent of the rest of the respondents. Another 48 percent of the most successful carriers use
Continues
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© 2015 Wells Fargo Bank, N.A. All rights reserved. All transactions are subject to credit approval. Some restrictions may apply. Wells Fargo Equipment Finance is the trade name for certain equipment leasing and finance businesses of Wells Fargo Bank, N.A. and its subsidiaries. WCS-1229002
WCS-1229002-WFEF-TX-Trucking-Association-2015.indd 1 1/6/2015 10:47:03 AM Winter 2015 59
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