USPS shows $60 million operating surplus in July, first class volume flat for second month in a row

Screenshot 2014-08-25 at 9.55.18 AMThe US Postal Service recorded an operating surplus of $60 million in July, the first month of quarter 4 of fiscal year 2014. After factoring in PAEA required accounting entries, the USPS will report a paper “loss” of $340 million. For the year to date, that leaves the agency with an actual cash surplus of $1.2 billion, vs. a PAEA paper “loss” of $4.4 billion.

One bright spot in the report is the fact that first class mail volume, long in decline, stayed just about level with the same period last year (SPLY) for the second month in a row. First class revenue was up 5.8% over SPLY, thanks to price increases. Shipping and package revenue was up 7.3% on a volume increase of almost ten percent.

On the downside, standard (advertising) mail volume dropped by 2.1% compared to SPLY, although revenue increased by 3.1%, again thanks to price increases.

Salaries and benefits for current employees were slightly lower than SPLY.

July Financials (unaudited) .pdf file.

  • Postal Mike

    Better speed up those closings and consolidations before someone notices.

  • Look it up

    In 2006 when PAEA was passed on a voice vote only the USPS was making millions in profits. The greedy politicians wanted to get their hands on it somehow and that’s how they did it.

  • Wake up

    The goal is to close / consolidate as many facilities as possible while congress stalls. Eventually when enough bricks are removed the wall will collapse. Donahoe will have achieved the political agenda he was hired for but place the blame on the economy, reduction in first class mail and naturally the unions.

  • Its all false

    I can’t prove it now, should have printed it, but a couple years back there was information out there that there was already enough money in the health care fund to pay benefits for the next 44 years even if another cent wasn’t added! In addition some of you must recall that between civil service and fers employee retirement was overfunded by 105 billion dollars. After some time and clever accounting by the GAO I believe that figure was changed to 12 billion!

  • SWEETSWOO

    hhhhmmmm — A fake and manufactured financial crisis to tear apart the peoples post office! Time to see reality folks and the reality is called ALEC agenda and fascist plutocracy — WE must rise up and fight the privatization of our Government– it will be our downfall.

  • Mo

    Hard to understand all these mixed messages. Postal management tells us we are not making money…..Postal News says we did……i know which one I believe!