USPS Releases 2018 Q1 Financial Results

02/12/2018

The United States Postal Service released its 2018 first quarter fiscal year (October 1 through December 31, 2017).

As expected, the data revealed continued downward trends in volume and revenue, however costs were not down.

For the quarter, the Postal Service reported a controllable income (i.e., revenues less costs it can control) of $353 million, down from $522 million at the end of PQ I/FY 2017. Total revenue for the quarter was $19.2 billion, essentially unchanged compared to the same quarter last year.

  • First-Class Mail: -$309 million (-4.4%), -646 million pcs. (-4.1%)
  • Standard Mail: -$248 million (-5.3%), -1.3 billion pcs. (-5.9%)
  • Shipping and Packages business increased $505 million, or 9.3 percent, during the quarter.

Once the “uncontrollable” costs are included, the true bottom line was a loss of $540 million, considerably worse than the $1.438 billion surplus posted a year ago.