Chief Financial Officer Joe Corbett discusses the Postal Service’s latest financial numbers in a new “Dollars and Change” video. During fiscal 2018’s first quarter (Oct. 1-Dec. 31, 2017), USPS posted total revenue of $19.2 billion and controllable income of $353 million. Controllable income describes net income or net loss that is adjusted for items outside…
The Postal Service continues to face “strong headwinds,” Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video. Corbett discusses the financial results from fiscal 2017’s third quarter (April 1-June 30, 2017), which showed year-to-year declines in First-Class Mail and Marketing Mail revenues. He also notes that while USPS is on track…
(August 24, 2016) Although USPS is growing its shipping business, the organization continues to face financial pressures from ongoing declines in First-Class Mail revenue, Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video. To bridge the gap, Corbett says the Postal Service is pursuing a two-pronged strategy: innovating while continuing to…
The Postal Service’s second-quarter operating revenue rose to $17.7 billion, a 4.7 percent increase over the same period last year, Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video message. Corbett attributes the rise to double-digit increases in shipping and package volumes, pricing strategies and the performance of USPS employees. “January…
By Eric Pfahler – August 6, 2015 Email, e-commerce and even drones are modifying the way people conduct business and interact with out-of-towners. And few industries feel the effects of the increasingly digital world more than the mail system. The overall economy took a big downward turn right as the U.S. Postal Service committed billions…
The Board of Governors of the U.S. Postal Service will meet Nov. 14 in open session at Postal Service headquarters, 475 L’Enfant Plaza, SW, Washington, DC. The public is welcome to observe the meeting beginning at 8:30 a.m. in the Ben Franklin Room on the 11th floor. The Board is expected to discuss the following…
The Postal Service is facing “an unprecedented financial crisis” and will be unable to fix its problems unless Congress gives the organization more flexibility, a new report concludes. USPS has about $22 billion in assets and $113 billion in liabilities, including liabilities related to a law that requires the organization to “prefund” health benefits for…
