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,…

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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…

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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…

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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…

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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…

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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…

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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….

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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…

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