NALC: USPS fiscal turnaround continues in Q3 2014

From the National Association of Letter Carriers:

The Postal Service released its third quarter financial results this morning and the numbers tell a clear story: the USPS financial turnaround continues.

So far this year, USPS has seen growth in overall revenue, operating profit, letter mail revenue and shipping and package revenue.

Postal finances have seen steady improvement since 2012.  Operating profit for the first three quarters of the year increased by $1.4 billion vs. 2013 and by $2.2 billion vs. 2012.

NALC_Blog_Graph_081114-01

Booming e-commerce activity has been a key driver of the Postal Service’s fiscal turnaround.  USPS shipping and package volume increased 7.7 percent year-over-year in the third quarter.

These figures show that the digital age can be a critical opportunity – not a threat – for the Postal Service.

Even the declines in letter mail volume due to Internet diversion are leveling, and large shipping and package revenue gains are entirely offsetting more gradual declines in letter mail volume.

As these positive trends continue, calls to slash and shrink our nation’s postal system look more and more misguided.  It’s time to strengthen the Postal Service so it can continue to grow, instead of cutting critical services that Americans rely on every day.

Lawmakers in Washington should work together and with all postal stakeholders on comprehensive postal reform that frees USPS from unprecedented financial strangleholds like the mandate to pre-fund health retiree benefits 75 years in advance and allows it to innovate for the future.

Spread the word that USPS is strong and growing.  Click here to share our graphic with your friends, family and co-workers.

Then, join the discussion on Facebook or by leaving a comment below.

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  • Old sack

    Again on the carriers backs. How about one of those raises we passed on? Maybe a Cola we got cheated out of?

  • Bob

    Do you really think they will do away with the prefunding of the retirees health care? Can you say cash cow! Ask them where they put the money from the prefunding and they will tell you it’s been put in the general fund. They should be putting it in a account where it will be used only for the retirees health care. If you had a private business and did this they would throw you in jail!

  • jim

    42 billion in debt and so proud

  • postalnews

    Total USPS debt is $15 billion- that’s all it can borrow. And all of that was borrowed from the Treasury so that it could be transferred back to the Treasury to satisfy the PAEA trust fund requirement.

  • postalnews

    The trust fund money is in an “account where it will be used only for the retirees health care”. Under the law, starting in 2017, that fund starts financing retiree health benefits, not the USPS.

    There seems to be some confusion about that issue, which I think stems from the fact that the trust fund was set up originally to help make the federal deficit look smaller. That doesn’t mean the trust fund is actually used to pay off the deficit- it’s just Congress’s voodoo accounting method. The USPS fund is off-budget, so it doesn’t impact the deficit one way or another. The trust fund is ON budget.So cash in the trust fund becomes an asset that “offsets” some of the deficit- at least in the eyes of the politicians who came up with the charade.

  • Bob

    Thank you for clearing that up we were always told that it was not that it was put in the general fund!

  • jonnyohio

    Typical baby boomer response that got everything handed to him/her and gets paid well for doing the same job. Why don’t you retire so we can have the jobs and I can get up to the higher pay? Oh, probably because you are all too far in debt. How do you know I get the mail in the wrong box? I don’t. I like my job. I just wish I got paid a little more is all, and I don’t see anything wrong with asking for it. You certainly would be wanting the same thing, you jerk. Just love to see the regulars take a pay cut and be told “there’s the door”….the crying would never end.

  • WhataJoke

    A CCA that doesn’t misdeliver mail? You’re in the minority, brother. It’s humorous that you believe me to be a baby boomer due to my original post. I’m just a professional letter carrier, 20 years from retirement, sick of seeing CCA’s doing more damage to our reputation and USPS image through consistent misdeliveries and lack of professionalism. Nice touch on the name calling too, you entitled toddler. Take the door, brother; I’m sure Best Buy or McDonalds will take you back.

  • WhataJoke

    No time to figure our our missed COLA’s for the union, the NALC is too busy pushing to rename post offices after deceased union bosses, as well as their new infatuation with CCA worship. At least that membership money is rolling in… The NALC leadership is more out of touch than they’ve been in a long time.