The U.S. Postal Service has already lost $2.1 billion in fiscal 2023, according to new figures released by the agency, exceeding its expected losses for this point by 75%. USPS has blamed inflationary pressures for throwing it off course, though its operating expenses have grown by less than 1% through the...
The steady decline in mail volume over the past 15 years has recently kicked into high gear, potentially foreshadowing major financial problems for the U.S. Postal Service (USPS) and the demise of a communications medium that has literally knit the nation together. Whether used to distribute government documents (e.g., driver’s licenses...
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...