Freight broker revenues climb in October

Posted: 29 Nov, 2018 by Steve Blair


Categories: Best Practices and Benchmarks

Tags: Broker


Freight brokers' revenues and costs rose by about the same amount in October, indicating that high rates paid by shippers were passed along to carriers. As a result, brokers' gross margins stalled at 12.5%. Brokers moved about the same number loads during the month but they made more money per load, compared to September.

 

This report is derived from the monthly financial results of more than 100 freight brokerage companies. Their 2017 average annual revenue of $19.5 million has risen 65% in the first ten months of 2018, year over year, putting them on track to exceed $30 million for the year. 

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Total revenues averaged almost $2.8 million for the month, up 11% compared to September, and 34% higher than October 2017. For the year to-date, revenues are up 65% compared to the same period in 2017. High truckload freight rates throughout the year contributed to the revenue increase, as did higher demand for freight brokerage services.

 

 

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