USPS Proceeds with Request for Postal Rate Change

USPS has announced price changes for letters, postcards and flats in alignment with Delivering for America, its 10-year plan to achieve financial stability and service excellence. If favorably reviewed by the Postal Regulatory Commission, the changes would take effect Aug. 29. Here are the current and planned prices: • Letters (1 ounce): 55 cents (current),…

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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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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…

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USPS Statement on COVID-19-related funding

USPS News Release – April 2, 2021 The U.S. Postal Service continues to track our COVID-19-Related Operating Expenses consistent with our understanding with the Department of the Treasury. As of March 31, 2021, we have been reimbursed for such expenses in the cumulative amount of $8.648B pursuant to the terms of the CARES Act as…

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USPS: The year in finances – Corbett delivers update in new video

Chief Financial Officer Joe Corbett discusses the Postal Service’s year-end financial report in his latest “Dollars and Change” video. USPS recently reported $73.1 billion in operating revenue for fiscal year 2020 (Oct. 1, 2019-Sept. 30, 2020) and $82.2 billion in operating expenses, leaving the organization with a net loss of $9.2 billion. First-Class Mail and…

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PRC Financial Analysis for FY 2019: USPS Financial Losses are Largest in a Decade

Press Release – May 7, 2020 Washington, DC – The Postal Regulatory Commission today released its Financial Analysis report of the Postal Service’s 2019 financial results. The report was developed using information from the Postal Service’s Fiscal Year (FY) 2019 10-K Statement and measured against its FY 2018 and FY 2019 Integrated Financial Plan, Cost…

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Letter to Congressional Democrats by the 4 postal unions (4/7/20)

We write on behalf of more than 600,000 postal employees that directly support a $1.6 trillion mailing industry that employs nearly 7.0 million other workers. We are deeply concerned about the rapidly deteriorating financial situation of the United States Postal Service (USPS) as a result of the Covid-10 pandemic and the deep recession it is…

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