USPS reports operational results for year-to-date
The United States Postal Service (USPS) has reported a controllable operating income of $1.79bn for the eight months up to May. This is up on the $1.39bn that USPS had in the plan. The controllable operating income is the profit that USPS would make if one excludes the payments to the Retiree Healthcare Benefit Fund and a workers’ compensation adjustment. When these figures are taken into account, the USPS made a loss of $2.53bn for the period.
According to a USPS report posted on the Postal Regulatory Commission (PRC) website on Friday (24 June), total revenue for year so far was $48.33bn, up about 2% on the plan and 3.3% on the same period last year.
The downward trend in mail volumes and revenue continued, with respective declines of 0.9% and 0.4% respectively over the year-to-date. First class mail was down 1.6% by volume and 1.1% by revenue. Standard mail (excluding all parcels and international) was down 0.2% by volume, but up 0.4% by revenue.