NALC: USPS’ ‘highly encouraging’ quarterly report reveals $765M profit

NALC-LOGO

Feb. 7, 2014–Today, the U.S. Postal Service released its financial report for the first quarter of Fiscal Year 2014, which covers the last three months of 2013.

Here is NALC President Fredric Rolando’s statement about today’s report:

Today’s Postal Service figures for the first quarter of 2014 are highly encouraging and show why the postal network must be maintained and strengthened, not degraded.

The announced operating profit of $765 million for the first quarter is dramatic in itself–and it continues the operating profitability that began last year.

The Postal Service’s unmatched networks and outstanding employees have made these striking results possible. And these trends augur well for the future, because they reflect the opportunities increasingly presented by the Internet and by an improving economy. Package revenues resulting from online shopping rose by more than 14 percent this quarter–more than offsetting the small decline in letter revenue.

This quarter’s $765 million operating profit compares with the $100 million from the first quarter of 2013–another sign of improving postal finances.

In light of these results, lawmakers should strengthen the postal network while addressing the remaining problem: the congressional mandate to pre-fund future retiree benefits, required of no other public or private entity in the country. Degrading the network and reducing services to the public and businesses would jeopardize the postal turnaround.

  • jim

    eliminate saturday delivery !!! 70% of americans dont want saturday delivery. i will get my usual 3 feet of flats tomorrow and 90% of small buisneses are closed on saturdays and the banks close at noon but greedy carriers want the 6 day delivery so they can pad there ot.the po is declining really bad .just look at facebook twitter and instagram. this is the future of our country not 4 day old mail

    • Bocco

      Jim,
      You really should consider another line of work. You are like a broken record. If things are so bad for our company how did we manage to make $600 million last year and $765 million just for the first quarter of this year. The pre-funding thing is just noise, it’s not real money, it’s just an accounting game. The money we’ve already paid into this pre-funding nonsense isn’t sitting in some special account, it goes directly to the treasury and an IOU is placed to our credit.

    • MikeS

      Not everyone that supports 6 day delivery does it to pad their OT. Some of us realize that the business will not get better by slowing down the mail and only working 3 or 4 days a week. Do you really think Wal-Mart (or any other large corporation) got where they are by only operating 30 hours a week? What do you think your local gas station would be like if it was only open 9am – 2pm Monday thru Wednesday? Would it still be in business?

      • freecountry

        GOOD CALL!!

    • freecountry

      You need to get a real route! From the sounds of it you have Saturdays off now. As of 1 hour ago I left with three trays of cased, 4 trays of DPS, and 47 parcels.

  • jim

    dont forget no prefunding no benefits when you retire. think about it

  • jim

    the only profitable service is parcels keep deliverying on saturdays and sundays. letter mail is down almost 3% and its going to keep diving. read the fine line !!!!