USPS Income Over Budget; Standard Volume Up 5.1%

The U.S. Postal Service had net income of $2.79 billion, or $703.3 million over budget, from Oct. 1 to July 31, the agency said last week. Also, mail volume was up, and expenses are under plan. USPS fiscal and operating statements showed that revenue totaled $57.6 billion, 0.1 percent better than planned, but down 0.3 percent from the year-ago period. Expenses of $54.8 billion were 1.2 percent under the planned budget, but up 2.6 percent versus the year-ago period. Total year-to-date mail volume of 171.5 billion pieces increased 1.3 percent from a year ago. Standard and International mail grew 5.1 percent and 4.6 percent, respectively. But several classes saw declines. Periodicals and Express Mail both fell 3.3 percent; Priority Mail, 2.4 percent; First-Class, 1.7 percent; and Package Services, 0.1 percent.