NALC Statement on Postal Service’s 2019 Q2 Financial Report

The Postal Service’s financial report on Friday shows the Postal Service’s underlying business strength while also indicating the need to address external matters beyond USPS control. Despite increased revenue of $555 million in the first six months of Fiscal Year 2019 compared to the same period last year, USPS reported an operating loss of $909 million for the first half of 2019. Continue reading

USPS reports $2.1 billion loss for 2nd quarter

  • Loss from operations (“controllable” loss) $806 million
  • Revenue of $17.5 billion, essentially unchanged compared to same quarter last year
  • Net loss of $2.1 billion
  • USPS remains focused on aggressive management actions and legislative and regulatory reforms to provide Americans with a financially sustainable Postal Service

WASHINGTON – The U.S. Postal Service reported total revenue of $17.5 billion for the second quarter of fiscal 2019 (January 1, 2019 – March 31, 2019), a decrease of $8 million, or essentially flat, compared to the same quarter last year. Continue reading

Bipartisan legislation introduced to repeal USPS pre-funding mandate

On April 28, Reps. Peter DeFazio (D-OR), Tom Reed (R-NY), Xochitl Torres Small (D-NM), and Brian Fitzpatrick (R-PA) introduced the USPS Fairness Act (H.R. 2382) which would repeal the mandate that USPS “pre-fund” decades’ worth of health benefits for its future retirees, enacted through the Postal Accountability and Enhancement Act (PAEA) of 2006. Continue reading

U.S. Postal Service Reports First Quarter Fiscal 2019 Results

  • Revenue of $19.7 billion, up 2.9 percent over the same quarter last year
  • Net loss of $1.5 billion
  • Return to financial stability requires legislative and regulatory changes, along with aggressive management actions

WASHINGTON — The U.S. Postal Service reported total revenue of $19.7 billion for the first quarter of fiscal 2019 (October 1, 2018 – December 31, 2018), an increase of $553 million, or 2.9 percent, compared to the same quarter last year. Continue reading