USPS: Second-quarter financial results reported

The Postal Service has reported its financial results for fiscal year 2021’s second quarter (Jan. 1-March 31). Here are some highlights: • Revenue. Total revenue was approximately $18.9 billion, up 6 percent compared with the same quarter one year earlier. First-Class Mail revenue decreased by 6.1 percent, while Marketing Mail revenue declined 13.7 percent. Revenue…

 Continue reading

PRC Releases Analysis of Postal Service Finances in FY 2020

Press Release – April 26, 2021 Washington, DC – The Postal Regulatory Commission (Commission) today released its Financial Analysis, an examination of the U.S. Postal Service’s (Postal Service) financial results and 10-K Statements for Fiscal Year (FY) 2020. Despite an increase in Competitive products revenue, the Commission’s overall analysis supports the conclusion that the Postal…

 Continue reading

USPS OIG Report: Uncompensated and Undercompensated Services

Objective Our objective was to determine whether the Postal Service is appropriately compensated for selected government and business services. The mission of the Postal Service is to provide the American public with trusted, affordable, and universal mail service. Through legislative enactments that codify service levels, the Postal Service must provide mail service to every U.S….

 Continue reading

USPS Reports Second Quarter Fiscal 2020 Results

Revenue of $17.8 billion, an increase of $348 million compared to same quarter last year COVID-19 volume and revenue impacts arose late in the quarter; significant financial impacts in the third quarter and beyond are anticipated We thank our employees and continue to prioritize their health and safety as they serve the nation The U.S….

 Continue reading

USPS FY 2018 second quarter results

Postmaster General and CEO Megan J. Brennan and Finance and Planning Vice President Luke Grossmann hosted a telephone/Web conference call to discuss the financial results in more detail. The call at 9:00 am ET on May 11, 2018, was open to news media and all other interested parties. Click Here for PDF Press Release –…

 Continue reading

NALC President Rolando on USPS latest financial results (audio)

The Postal Service’s latest financial results are no better than any of their recent numbers. But they might not be as bad as they look. Different interpretations of those numbers cause some leaders to think the Postal Service has a faster route back to profitability than Congress does. Frederic Rolando, president of the National Association…

 Continue reading

Why is the Postmaster General Understating Postal Revenue Gains?

By David Yao In a May 9, 2014 press release, the Postal Service issued another quarterly press release turning an operating profit (of $261 million) into a loss. The supposed loss, an accounting fiction, was caused entirely by the 2006 law which generates a long-term loan to the Federal treasury, under the guise of “pre-funding”…

 Continue reading