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…
Excluding the effects of a $1.7 billion change in its workers’ compensation liability due to fluctuations in interest rates, the Postal Service has posted a net loss of approximately $200 million for fiscal 2017’s first quarter (Oct. 1-Dec. 31, 2016). USPS also reported that net income for the quarter was approximately $1.4 billion. Controllable income…
(August 24, 2016) Although USPS is growing its shipping business, the organization continues to face financial pressures from ongoing declines in First-Class Mail revenue, Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video. To bridge the gap, Corbett says the Postal Service is pursuing a two-pronged strategy: innovating while continuing to…
