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 retreats from dire financial forecast

Washington Postal Scene by Bill McAllister June 25, 2020 The United States Postal Service has officially retreated from its dire financial forecast saying that it would be out of cash by June. The new forecast, given to mailer associations June 22, is actually two forecasts, according to Stephen Kearney, executive director of the Alliance of…

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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….

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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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USPS OIG: FY 2018 Selected Financial Activities and Accounting Records

Objective Our audit objectives were to determine whether the U.S. Postal Service: Fairly stated accounting transactions in the general ledger and whether selected controls surrounding those transactions were designed and operating effectively. Properly tested, documented, and reported its examination of selected key financial reporting controls related to Headquarters and Accounting Services. The Postal Reorganization Act…

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USPS: Financial results for fiscal 2017’s third quarter announced

The Postal Service has reported its financial results for fiscal 2017’s third quarter (April 1-June 30, 2017). Here are some highlights: • Total revenue. The organization’s total third-quarter revenue was $16.7 billion. This is essentially unchanged from the same period last year, excluding the effect of a $1.1 billion non-cash change in accounting estimate recognized…

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