This time a year ago, well before the extent of the coming year's cost-inflationary pressures were fully known, owner-operators delivered mixed signals for the coming year of 2022, though 65% predicted income to be better or about the same as prior year 2021. This year, the script has most certainly flipped on the 2023 outlook, with 61% looking out and seeing worse to come or about the same.
Among commenters reflecting the near-majority fearing worse conditions ahead was one who, though fuel prices have moderated a bit in the last month, expected more hikes in the future: "With no end in sight on fuel prices going up, taking away from the bottom line, then '23 is definitely going to be worse than '22."
Today on Overdrive Radio, we're re-airing a September talk with Glen and Karla Horack, Glen named Owner-Operator of the Year in March of 2022. Horack's diligent approach to reserve-account savings is instructive for any owner-op looking to hedge against the chance of a big downturn.
As Richard Davis noted in comments under the poll, reflecting on the spot-market boom year of 2021, "What goes up must come down."
