Louis DeJoy thought his workday was done as he arrived home one evening in February 2022. The Postmaster General was locked in a grueling, monthslong battle with Congress over a bill to shake up the Postal Service. But as he settled in, his cell phone rang and, pulling it out,...
The U.S. Postal Service (USPS) files periodic, public financial statements with the Postal Regulatory Commission (PRC). Below are observations on notable financial trends and developments at USPS. Operating Revenue and Growth in e-Commerce USPS’s operating revenue reached a record $78.5 billion in Fiscal Year 2022.[1] This was the second consecutive year of...
While the United States Postal Service (USPS) has seen what could be viewed as mixed fiscal year 2023 earnings results, in that it in February it reported 1.0% operating revenue gain and a $1.0 billion net loss, a trio of parcel experts told LM that the organizations is making inroads These...
The Postal Service, as it moves ahead with plans to make long-deferred upgrades to its vehicle fleet and delivery network this year, is falling behind on its financial goals for the year. USPS, in a recent filing to the Postal Regulatory Commission, reported more than a $1 billion net loss for...
For years, the U.S. Postal Service has faced competition from the likes of United Parcel Service Inc. and FedEx Corp. To fight them off, it hired outside trucking companies at cut-rate prices, required them to meet aggressive schedules and then looked the other way when they ran afoul of highway...