USPS: Third-quarter financial results reported

August 9, 2022  The Postal Service has reported its financial results for fiscal year 2022’s third quarter (April 1-June 30). Here are some highlights: • Revenue. Operating revenue was $18.7 billion, an increase of 1.4 percent compared with the same quarter one year earlier. First-Class Mail revenue was essentially flat, while Marketing Mail revenue increased…

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USPS CFO Corbett reviews fiscal year 2022’s second quarter (video)

June 9, 2022 The Postal Service’s chief financial officer, Joe Corbett, reviews fiscal year 2022’s second quarter (Jan. 1-March 31) in his latest “Dollars and Change” video. USPS reported $19.8 billion in operating revenue, total operating expenses of $20.4 billion and an adjusted loss of $1.7 billion for the quarter. The organization also reported improvements…

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USPS: CFO reports first-quarter results (video)

March 7, 2022 The Postal Service’s performance during the holidays was a “solid victory,” Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video. USPS accepted more than 11 billion mailpieces and packages for delivery from Thanksgiving through New Year’s Eve, the organization’s peak season, with an average delivery time of 2.7…

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USPS OIG Report: Fiscal Year 2022 Peak Mailing Season Preparedness

Objective Our objective was to evaluate U.S. Postal Service’s preparedness for the fiscal year (FY) 2022 peak mailing season. Each year, increased mail volume during the Postal Service’s peak mailing season —November through January — significantly strains the Postal Service’s processing and distribution network. During the peak mailing season of FY 2021, package volume increased…

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