PRC: USPS’s overall financial condition continues to worsen

PRC: USPS’s overall financial condition continues to worsen

 The Postal Regulatory Commission released its Financial Analysis report for Fiscal Year (FY) 2023.

The in-depth analysis of the Postal Service’s financial performance concluded that the organization’s overall financial condition continues to worsen. In FY 2023, the Postal Service recorded a net operating loss of $2.3 billion — an increase of $1.8 billion over the previous year. When non-operating expenses are included, the overall net loss increases to $6.5 billion.

The primary highlights from the report were:

  • The Postal Service had a net loss of $6.5 billion.
  • Total Factor Productivity, a measure of Postal Service efficiency, saw the largest decrease (4 percent) since it was first calculated in 1965.
  • Total mail volume decreased by 8.7 percent, including a 2.0 percent decrease in the volume of Competitive products.
  • Revenue from Competitive products increased by $0.2 billion.
  • Despite rate increases, Market Dominant revenue decreased by $0.4 billion.
  • Total operating expenses were $2.1 billion higher than the previous year.
  • The Postal Service recorded total assets of $45.3 billion and total liabilities of $68.4 billion at the end of FY 2023.

A complete copy of the Commission’s in-depth financial analysis may be found here or at www.prc.gov.

Relevant Directory Listings

Listing image

KEBA

KEBA is an internationally successful high-tech company with headquarters in Linz (Austria) and subsidiaries worldwide. KEBA is active in the three operative business areas: Industrial Automation, Handover Automation and Energy Automation. The company has been developing and producing for more than 50 years according to […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This