USPS Board of Governors briefed on third quarter performance & financial results

During Board of Governors meeting, last Wednesday 8th August, Chief Financial Officer H. Glen Walker said revenue for the third quarter totaled USD 18.4 billion, up 2.9 percent from the same period last year. Expenses for the quarter totaled USD 19.1 billion, including USD 878 million that is attributable to the implementation of the Postal Accountability and Enhancement Act, signed into law the end of last year. The result was a USD 659 million net loss for the third quarter.

Total factor productivity (TFP) once again continued its upward trend in the third quarter, increasing by 1.8 percent, with year-to-date TFP up 1.4 percent. TFP measures the relationship between workload and resource usage.