USPS Generates Net Income of $6.2 Million in May

Share this content:

The U.S. Postal Service generated net income of $6.2 million before escrow allocation during May, according to financial and operating statements.

The Civil Service Retirement System Funding Act required the USPS to place $3 billion in an escrow account by Sept. 30, 2006, to cover the difference between the CSRS retirement costs before and after the law's implementation. The USPS said it is allocating $250 million monthly for purposes of reconciling its financial position.

After the escrow allocation, USPS' financial position for May shifts to a net deficiency of $256.2 million.

USPS revenue in May is 11.5 percent higher than the same period last year, and $66.9 million over plan.

Expenses in May are 7.7 percent higher than the same period last year.

Total mail volume in May was 1.3 billion pieces, or 8.0 percent higher than the same period last year. With the exception of Periodical Mail and International Mail, all of the major mail categories posted volumes above levels last year.

Year-to-date, net income before escrow allocation is $1.65 billion or $281.3 million over plan. Year-to-date, the net deficiency after escrow allocation is $354.4 million.

Year-to-date revenue is 3.8 percent higher than last year and is $411 million above the year-to-date plan.

Expenses year-to-date are 4.4 percent higher than the same period last year.

Year-to-date, total mail volume is 0.9 percent or 1.2 billion pieces above last year.

A significant mail volume increase over last year is in the Standard Mail category, which increased 1.4 billion pieces or 2.1 percent. Year-to-date, First-Class Mail volume is 0.6 percent less than the same period last year.

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above