The coronavirus pandemic is having “a significant negative impact” on the Postal Service’s finances, Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video. The pandemic has dramatically accelerated mail volume declines. Although USPS has seen an increase in its package business because more consumers are staying home and having products shipped…
Chief Financial Officer Joe Corbett reviews the Postal Service’s latest financial results in a “Dollars and Change” video released this week. During fiscal year 2020’s first quarter (Oct. 1-Dec. 31, 2019), USPS recorded total revenue of $19.4 billion and total operating expenses of $20.1 billion, leaving the organization with a net loss of $748 million….
The Postal Service’s year-end financial report is discussed in Chief Financial Officer Joe Corbett’s latest “Dollars and Change” video. USPS recorded $71.1 billion in total operating revenue in fiscal 2019 (Oct. 1, 2018-Sept. 30, 2019) and $79.9 billion in total operating expenses. This left the organization with a net loss of $8.8 billion — an…
WASHINGTON — The U.S. Postal Service Board of Governors will meet Nov.14, 2019, in open session at Postal Service headquarters, 475 L’Enfant Plaza, SW, Washington, DC. The public is welcome to observe the meeting beginning at 9:00 a.m. ET in the Benjamin Franklin Room on the 11th floor. The Board is expected to discuss the…
In his latest “Dollars and Change” video, Chief Financial Officer Joe Corbett reviews the Postal Service’s financial results from fiscal 2019’s third quarter (April 1-June 30). USPS recorded total revenue of $17.1 billion and operating expenses of $19.3 billion, leaving the organization with a net loss of $2.3 billion. The net loss was driven by…
Chief Financial Officer Joe Corbett reviews the Postal Service’s latest in a “Dollars and Change” video released this week. During fiscal 2019’s second quarter (Jan. 1-March 31), USPS recorded revenue of $17.5 billion. Operating expenses were $19.6 billion, leaving the organization with a net loss of $2.1 billion. Several factors contributed to the net loss,…
In his latest “Dollars and Change” video, Chief Financial Officer Joe Corbett reviews the Postal Service’s financial results for fiscal 2019’s first quarter (Oct. 1-Dec. 31, 2018). “The major trends in our business continue,” he says. USPS recorded $19.7 billion in total revenue, but operating expenses were $21.2 billion, leaving the organization with a net…
Chief Financial Officer Joe Corbett reviews the Postal Service’s year-end financial report in a new “Dollars and Change” video. USPS recorded $70.6 billion in total revenue in fiscal 2018 (Oct. 1, 2017-Sept. 30, 2018), up 1.5 percent from the previous fiscal year. Total operating expenses for the year were $74.4 billion, up 3.1 percent. This…
