USPS

Fiscal year 2023 first quarter earnings results, for the United States Postal Service (USPS), which were issued yesterday, saw a 1.0%—or $206 million—increase in operating revenue, to $21.5 billion, with volumes down 1.7 billion pieces—or 4.8%—annually. While operating income increased, USPS said that it had a $1.0 billion net loss, which it said was a $519 million decrease in net loss compared to a $1.5 billion net loss, for the same quarter a year ago.

After stating in July that it was preparing to cut down on its Sunday delivery services in remote and rural areas of the United States, from 95% to 80% of the U.S. population, Memphis-based global freight transportation and logistics services provider FedEx is now reducing its Sunday delivery footprint to around 50% of the country, according to various reports.

The firm said that average tally of parcels delivered per day came in at around 85 million, with OTP ranges for the three largest carriers—FedEx, UPS, and the United States Postal Service (USPS)—in similar territory, at 96.3%, 97.0%, and 96.2%, respectively.

Fiscal year (FY) 2022 third quarter earnings for the United States Postal Service (USPS) saw total revenue post a 1.4% annual increase, to $18.741 billion. And it had an adjusted quarterly loss of $459 million compared to an adjusted loss of $41 million, for the same quarter last year, while posting $59.7 billion in net income, compared to a $3.0 billion FY 2021 second quarter loss.

The United States Postal Service (USPS) reported today that, for the Fiscal Year (FY) 2022 second quarter, it had an adjusted loss of roughly $1.7 billion, slightly above a $1.3 billion loss, for the fiscal first quarter, while coming in flat on an annual basis. USPS said quarterly operating revenue—at around $19.8 billion—was up compared to around $18.8 billion a year ago, with total revenue—at around $19.8 billion up compared to around $18.9 billion a year ago. Total volume was up 2.9%, or 886 million pieces,...

It’s expected that the USPS will broaden its revenue base with new services, and that will offset the steady decline in first class mail volumes. It’s also expected that USPS will raise its competitive profile by delivering mail and other services to businesses and consumers.

Now that the United States Senate followed the House’s lead in signing off on the Postal Reform Act legislation, which is focused on augmenting the financial health of the long-beleaguered United States Postal Service (USPS), earlier this month, questions regarding next steps still largely remain.

Following approval by the U.S. House of Representatives on February 8, the United States Senate followed suit yesterday, in also signing off on the Postal Service Reform Act, legislation that is focused on augmenting the financial health of the long-beleaguered United States Postal Service (USPS). The next step for the legislation is for it to be signed into law by President Biden.

The U.S. Postal Service has launched USPS Connect - a set of four delivery solutions that leverage ongoing network improvements, new equipment, new pricing, and enhanced operational precision to meet evolving business needs.

Entitled USPS Connect, USPS said that this offering is comprised a four separate offerings that offer various options to help shippers meet high consumer demand “for affordable, fast local, regional and national deliveries, and returns

Our Vision and Ten-Year Plan to Achieve Financial Sustainability and Service Excellence - Our plan enables the Postal Service to achieve a positive net income within three years, and to achieve a break-even operating performance over the next 10 years.

The United States Postal Service (USPS) reported earlier today that, for the Fiscal Year (FY) 2022 first quarter, it had an adjusted loss of roughly $1.3 billion, much steeper than the $288 million adjusted loss it saw, for the same quarter last year. And USPS said that on a “generally accepted accounting principles basis, the USPS had a net loss of around $1.5 billion for the quarter, compared to $318 million in net income a year ago.

Data recently issued by ShipMatrix, a subsidiary of Pittsburgh-based SJ Consulting showed that data from on-time performance (OTP) ranges, for week 50 of 2021 for major parcel carriers, including UPS, FedEx, and the United States Postal Service (USPS), was in similar range as previous weeks leading up to it that were comprised of Thanksgiving and Cyber Monday.

Data recently issued by ShipMatrix, a subsidiary of Pittsburgh-based SJ Consulting showed varied on-time performance (OTP) ranges, for weeks 47 through 49 of 2021 and including Thanksgiving and Cyber Monday, from November 14-December 4), for major parcel carriers, including UPS, FedEx, and the United States Postal Service (USPS).

This data is based on millions of packages shipped via UPS, FedEx, and USPS.