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…

 Continue reading

USPS: Second-quarter financial results reported

May 5, 2022 The Postal Service has reported its financial results for fiscal year 2022’s second quarter (Jan. 1-March 31). Here are some highlights: • Revenue. Operating revenue was approximately $19.8 billion, an increase of 4.7 percent compared with the same quarter one year earlier. First-Class Mail revenue increased 5 percent, while Marketing Mail revenue…

 Continue reading

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…

 Continue reading

USPS CFO reports on FY 2021 results (video)

December 3, 2021 USPS reported mixed results for fiscal year 2021, but fully enacting the Delivering for America plan will help put the organization back in the black, Chief Financial Officer Joe Corbett says in his latest “Dollars and Change” video. For fiscal year 2021 (Oct. 1, 2020-Sept. 30, 2021), total revenue was $77.1 billion,…

 Continue reading

USPS reports financial results for fiscal year 2021

The Postal Service has reported its financial results for fiscal year 2021 (Oct. 1, 2020-Sept. 30, 2021). Here are some highlights: • Revenue. Operating revenue was $77 billion, an increase of 5.3 percent from the previous fiscal year. Shipping and packages revenue increased 12.2 percent, while Marketing Mail revenue increased 4.9 percent. First-Class Mail revenue…

 Continue reading

USPS CFO Corbett discusses USPS finances, 10-year plan

May 26, 2021 A coronavirus pandemic-fueled surge in package deliveries has not been enough to offset the Postal Service’s increased operating costs and declining revenue from mail services, Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video. During fiscal year 2021’s second quarter (Jan. 1-March 31), the organization’s total revenue was…

 Continue reading

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

USPS OIG Report: Revenue and Costs in the Retail Network

April 12, 2021 (RISC-WP-21-003) The Postal Service’s more than 31,000 post offices constitute the largest retail network in the U.S. by number of locations, but 42 percent do not generate enough revenue to cover costs of operation. Opportunities exist for the Postal Service to increase revenue or lower costs at post offices without reducing access…

 Continue reading