US Postal Service Records Whopping $6.5 Billion Net Loss For 2023

The United States Postal Service (USPS) on Tuesday reported a $6.5 billion net loss for fiscal year 2023 despite initially aiming to break even.

The Postal Service said operating revenue fell $321 million, or 0.4%, to $78.2 billion compared to the same period last year, as first-class mail fell to the lowest volume since 1968.

The federal entity pointed to $2.6 billion in inflation costs and a decrease in mail volume for the significant losses. The 2023 fiscal year ended on Sept. 30.

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Michael Dorgan