USPS posts first quarter loss

Share this content:

The US Postal Service ended its first quarter, which runs from October 1 to December 31, with a net loss of $384 million.

The USPS said today the economic recession contributed to a 5.2 billion piece mail volume decline compared to the same period last year. The 9.3% volume drop marked the eighth consecutive quarter of accelerating volume declines. It projects that volume for the year will be down by 12 billion to 15 billion pieces.

The final first quarter results will be published later this month. The preliminary results, released during this week's Board of Governors meeting, include operating revenue of $19.1 billion — a decrease of $1.3 billion, or 6.3%, compared to the same period last year; and operating expenses of $19.5 billion — a reduction of approximately $200 million, or 1.1%, from the first quarter of last year.

First-class mail volume decreased by 1.8 billion pieces, and standard mail volume was down 3 billion pieces in the first quarter.

If current revenue and volume trends continue, the USPS said it could see a year-end net loss significantly higher than last year's $2.8 billion loss.

 


Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

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