USPS Reports Financials for FY2018 Q2

05/11/2018

On May 11, 2018, the Postal Service hosted a media call to review the financial results from FY2018 Q2. They have also posted the associated press release and supporting documentation.

They reported total revenue of $17.5 billion for the second quarter of 2018 (January 1, 2018 – March 31, 2018), an increase of $235 million, or 1.4 percent, compared to the same quarter last year. Reported a net loss of $1.3 billion, with slight revenue increases offset by cost increases, particularly in transportation and salaries and benefits.

Shipping and Packages revenue grew by $445 million, or 9.5 percent, while First-Class and Marketing Mail revenue fell by a combined $181 million.

To date this year, USPS has lost $1.9 billion.

  • First Class: For the three months ended March 31, 2018, First-Class Mail revenue decreased $166 million, or 2.5%, and volume declined 521 million pieces, or 3.4%, compared to the same period last year. For the six months ended March 31, 2018, First-Class Mail revenue decreased $475 million, or 3.5%, and volume declined nearly 1.2 billion pieces, or 3.7%, compared to the same period last year.
  • Marketing Mail: For the three months ended March 31, 2018, Marketing Mail revenue decreased $15 million, or 0.4%, and volume declined by 179 million pieces, or 1.0%, compared to the same period last year. For the six months ended March 31, 2018, Marketing Mail revenue decreased $263 million, or 3.0%, and volume declined by 1.5 billion pieces, or 3.6%, compared to the same period last year.

After the presentation by PMG Brennan and VP Luke Grossman, USPS fielded questions from media where they reiterated their hope that immediate legislative and regulatory relief will be in the offing irrespective of the ongoing efforts of the President’s Task Force.