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Trucking profit and loss statement: a sample for one truck
Short answer: A trucking profit and loss statement (P&L) starts with settlement income at gross, subtracts every operating cost, including the ones the carrier deducted, and ends with profit. For an owner-operator, two more lines matter: the truck loan principal and escrow aren't expenses, so cash left over is different from profit. Below is a full sample month with made-up numbers.
The sample: one month, one truck
Fictional numbers, not a real driver. A real report comes from reconciled books.
| November · 10,000 miles | Amount |
|---|---|
| Income | |
| Settlement gross (trip pay, fuel surcharge, tolls billed through) | $13,500.00 |
| Expenses | |
| Fuel | −$5,600.00 |
| Repairs and maintenance | −$1,200.00 |
| Truck insurance (carrier deduction) | −$1,100.00 |
| Truck loan interest | −$450.00 |
| Tolls (carrier deduction) | −$300.00 |
| Tires | −$250.00 |
| Plates and registration (carrier deduction) | −$150.00 |
| Phone | −$100.00 |
| ELD and equipment fees (carrier deduction) | −$50.00 |
| Other (supplies, washes, bank fees) | −$150.00 |
| Total expenses | −$9,350.00 |
| Profit for the month | $4,150.00 |
Profit isn't the cash you kept
Two payments leave your account without being expenses:
| After the P&L | Amount |
|---|---|
| Profit for the month | $4,150.00 |
| Truck loan principal (lowers what you owe; on the balance sheet) | −$1,650.00 |
| Escrow held back by the carrier (still yours; on the balance sheet) | −$400.00 |
| Cash left, before taxes and what you take home | $2,100.00 |
That's why the truck payment is split in two: interest is an expense on the P&L, principal pays down the loan. And escrow is money the carrier is holding for you (how escrow works). Your real books may also show depreciation on the truck, set with your tax preparer; this sample leaves it out to keep the month readable.
Cost per mile from the same month
- Operating cost per mile: $9,350 ÷ 10,000 miles = $0.94.
- Counting the full truck payment (adding the $1,650 of principal): $11,000 ÷ 10,000 = $1.10.
- Gross per mile: $13,500 ÷ 10,000 = $1.35, so each mile left about $0.25 after everything, before taxes.
Run your own numbers in the cost per mile calculator.
What to look at every month
- Profit and cash, side by side. A good profit month can still be a tight cash month if a big principal payment or escrow catch-up hit.
- Fuel per mile. Your biggest cost; small changes add up fast.
- Repairs, averaged. One bad month isn't a trend. Look at the last three to six months.
- What changed since last month, line by line. That's where the "what's working and what isn't" answer is.
- Income vs the year-to-date gross on your last settlement sheet. If they differ, a week is missing or doubled.
Where the numbers come from
Every line traces to a document: settlement income and carrier deductions from the settlement sheets (reading one), everything else from bank and card statements reconciled each month, and the interest/principal split from your lender. That's how this report gets built for Monthly Books clients every month. (How settlements get recorded.)
Not sure where your books stand? Tell us in two lines how you keep your books now and how far behind they are. We'll set up a short call, tell you free what shape they're in, and quote a fixed price to get them current.
Get a free books check See pricingCommon questions
What is a trucking profit and loss statement?
A report of one period's settlement income at gross, minus every operating cost, including what the carrier deducted, ending with profit for the period.
Is my truck payment an expense?
Only the interest part is an expense on the P&L. The principal part pays down the loan and shows on the balance sheet, so it lowers your cash but not your profit.
Why is my profit higher than the cash I have?
Truck loan principal, escrow held back by the carrier and money you take for yourself all reduce cash without being expenses. Taxes come out of what's left, too.
Should carrier deductions be on my P&L?
Yes. Insurance, tolls, plates and equipment fees the carrier deducts are real costs. Leaving them off understates both income and expenses. Escrow is the exception: it's an asset.
How often should an owner-operator look at a P&L?
Monthly, once the books are reconciled. Comparing each month with the one before shows what's working and what isn't.