USPS Reports FY 2018 Q3 Financial Results
On August 9th, the USPS® reported its financial results for the third quarter of 2018 (April 1 – June 30). The Postal Service™ posted a loss of $1.489 billion, compared with a $2.1 billion loss during Q3 of 2017.
Due to the January price increase and continued growth in the package business, the Postal Service reported $17.077 billion in revenue, a 2.4% increase over the same period last year. Operating expenses were 1.3% lower than the prior year, yet the year-end result was another quarter of net losses.
First-Class™ Mail volume declined 499 million pieces, while Marketing Mail volume increased 102 million pieces primarily due to increases in political and election mail. Periodicals volume remained relatively unchanged. Shipping and Package volume continued to grow but at a slower rate, increasing 7.5%.
The following summary of their operations results appeared in the USPS 10-Q:
The major factors that impact our operating results include overall customer demand, the mix of postal services and contribution associated with those services, volume of mail and packages processed through our network and our ability to manage our cost structure in line with declining levels of mail volume, growth in more labor-intensive Shipping and Packages volume and an increasing number of delivery points. We operate as a single segment and report our performance as such.
