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

USPS: First-quarter financial results reported for FY 2020

The Postal Service has reported its financial results for fiscal year 2020’s first quarter (Oct. 1-Dec. 31, 2019). Here are some highlights: • Revenue. Total revenue was $19.4 billion, down 1.8 percent from the same period one year earlier. First-Class Mail revenue declined 2.5 percent, while Marketing Mail revenue fell 5.4 percent. Shipping and packages…

 Continue reading

USPS: Increase in net loss of $4.9 billion for FY 2019

The Postal Service has reported its financial results for fiscal 2019 (Oct. 1, 2018-Sept. 30, 2019). Here are some highlights: • Revenue. Operating revenue was $71.1 billion, up 0.7 percent from the previous fiscal year. The increase was driven largely by price changes and continued growth in shipping and packages, where revenue increased 6.1 percent….

 Continue reading

USPS: First-quarter financial results reported

The Postal Service has reported its financial results for fiscal 2019’s first quarter (Oct. 1-Dec. 31, 2018). Here are some highlights: • Revenue. Total revenue was $19.7 billion, up 2.9 percent compared to the same period one year earlier. First-Class Mail revenue declined 1.2 percent, while Marketing Mail revenue increased 4.9 percent. Shipping and packages…

 Continue reading

USPS: Year-end results reported

The Postal Service has reported its financial results for fiscal 2018 (Oct. 1, 2017-Sept. 30, 2018). Here are some highlights: • Revenue. Total revenue was $70.6 billion, up 1.5 percent compared to the previous fiscal year. The higher revenues were driven largely by continued growth in shipping and packages, where revenue reached $21.5 billion, a…

 Continue reading

Will the U.S. Postal Service Be Broke Again in 4 Years?

The Post Office grew revenues 2 percent in the third fiscal quarter of 2014, raking in $16.5 billion in operating revenue. (Hurray!) But it still managed to lose $2 billion on its business. (Boo!) So what’s the real story with the United States Postal Service? Is business booming, or is the Post Office going bust?…

 Continue reading

USPS OIG: Making Every Mile Count . . . More

Earn more or spend less. Those are the two basic ways to achieve financial fitness, whether you’re talking about the household budget or a multi-billion-dollar corporate balance sheet. And that’s what it comes down to for the U.S. Postal Service as it seeks to bring revenue in line with expenses (it lost $5 billion in…

 Continue reading