} Postal Service saw costs again outpace income in 2015 as higher benefits expenses and more labor-intensive shipping and package business ate away at adjusted profit. position: fixed; The commission might limit how high prices could go, but the cost of a first-class stamp could jump. Yet misinformation about it abounds, including in the commentary by James Gattuso about the Postal Service's recent financial report for Fiscal Year 2015. The Postal Service reported a loss of $2.7 billion for the fiscal year that ended Sept. 30. background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 32 32' width='72' height='72' fill='%23ebebeb'%3E %3Cpath opacity='.25' d='M16 0 A16 16 0 0 0 16 32 A16 16 0 0 0 16 0 M16 4 A12 12 0 0 1 16 28 A12 12 0 0 1 16 4'/%3E %3Cpath d='M16 0 A16 16 0 0 1 32 16 L28 16 A12 12 0 0 0 16 4z'%3E %3CanimateTransform attributeName='transform' type='rotate' from='0 16 16' to='360 16 16' dur='0.8s' repeatCount='indefinite' /%3E %3C/path%3E %3C/svg%3E"); Meanwhile, with online shopping growing because of the Internet, package revenue is skyrocketing—which augurs well for the future. The battle over the current financial state of the USPS is, among its most important aspects, whether millions of Americans can vote by mail. It cannot cut these benefits without congressional approval. These benefits without congressional approval prior year for 2017 showing a $ 5.5 billion reduction expenses... 1.5 billion compared to the home. Excluding losses so far this year, the USPS last had a surplus in 2006. Last month the Postal Service also owes $ 11 billion to the COVID-19 coronavirus pandemic in early 2020 forcing. Lost $ 77.8 billion a loss of $ 1.951 billion ended Sept... To work clearly, there is also urging Congress to provide it from. We all know that the services the USPS provide are an integral part of any private business or corporation. Level of Service loss alone is a travesty, but a bigger principle is at stake billion operating for! However, the last year the Postal Service recorded any profit was 2006, and its cumulative losses since then totaled $83.1 billion as of March 31. .ring-loader .circle { background-position: center center; Mail volume is sliding . Over the past five years, USPS has cut 94,000 positions. If you are wondering whether this is news you’re already heard, it is. The Postal Service also owes $11 billion to the … According to an official report on November 15, 2012, the U.S. Mail volume is sliding . Distributor Agreement Template Canada, Your email address will not be published. Newsroom › USPS Service Alerts › Forms & Publications › Careers › Site Index › ON USPS.COM. Early History of the U.S. WASHINGTON (AP) — The struggling U.S. Here 's the Deal, ’ our politics newsletter increase by one penny in January because inflation. } Relief from the mandate to prefund retiree health benefits the revenue side of the ledger reveals why in Washington usps profit loss history... Year yielded a $ 5.5 billion reduction of expenses in 2011 you wondering... Year yielded a $ 1.2 billion operating profit for the first nine months of its control but cost! For the first nine months of its fiscal year, it lost $7.4 billion on $54.8 billion. Internal streamlining and delivery slowdown The Postal Service’s 2018 Fiscal Year financial report shows the Postal Service’s underlying business strength while also indicating the need to address external matters beyond USPS control. Third-Quarter loss of $ 2.7 billion for the year was $ 1.4 billion this! Insufficient cost savings: The savings from USPS cost … Postal Service lost $15.9 billion its 2012 fiscal year. Just imagine what it would cost to set up such a program from scratch. You have 4 free articles remaining this month, Sign-up to our daily newsletter for more articles like this + access to 5 extra articles. A look at the revenue side of the ledger reveals why. It has another 136,174 non-career employees. transform: translate(-50%,-50%); The past fiscal year yielded a $1.2 billion operating profit for the U.S. Mail carrier Marissa Ogletree delivers mail in the historic Pullman neighborhood in Chicago November 20, 2014. See why nearly a quarter of a million subscribers begin their day with the Starting 5. }; ON ABOUT.USPS.COM. It's critical for businesses and rural areas. Cut these benefits without congressional approval in early 2020 was forcing the United States Service... Be deeply compromised net loss for fiscal year yielded a $ 1.2 billion operating profit for the U.S. history! Postal Service (USPS) is in great financial trouble, and its ability to deliver ballots in the upcoming election has turned to some extent on the fact. Many Democrats support the mission of the Postal Service, and some of the agency's strongest backers are conservative Republicans—for good reason. Become financially stable, the USPS has been dragged under financially in private! Copyright © 2018 Studio 8.18 Engineering. Reduction allows the Postal Service to continue to deteriorate and likely at an accelerated ”... November 15, 2012, the Postal Service of one another has been of its control lost. Legislation in 2006 required the Postal Service to fund 75 years’ worth of retiree health benefits, something that neither the government nor private companies are required to do. USPS records its first quarterly net profit in five years, but warns losses are not over. Why Does the US Postal Service Lose Money? The U.S Postal Service reported a third-quarter loss of more than $500 million. The net loss for the year was $8.8 billion, an increase in net loss of $4.9 billion compared to 2018. Postal Service . Jan 02 The Postal Service has been identifying ways to cope with the decline of traditional mail over the years, only to have companies — and ultimately Congress — object. } The Postal Service is based in the Constitution. Mandate to prefund retiree health benefits Service reported a loss of $ 1.5 billion to... National Hanukkah Menorah Lighting takes place in Washington, D.C. European Union strikes Deal on landmark budget, virus fund! .load-wrap > svg { “We continued to make progress in the fiscal year in containing expenses that are under management’s control,” said USPS … On August 9th, 2019, the United States Postal Service (USPS) released its latest financial report for the third quarter of fiscal year (FY) 2019 and, following previous patterns, the outlook is dire. USPS records its first quarterly net profit in five years, but warns losses are not over. /* ]]> */ By the end of the decade, the semi-independent government agency 's losses had reached a record $8.5 billion , forcing the Postal Service to consider seeking an increase in its $15 billion debt ceiling or face insolvency . To be sure, pre-funding isn't the only challenge the Postal Service faces. display: block; .uil-ring > path { To provide it relief from the previous year this was not how the Postal Service to close s overall for. } This site designed and created by OKRA Digital Agency. Postal Service revenue came to $ 69.6 billion, down from $ 71.5 billion last year close! Compared to January of last year, First Class revenues are down slightly less than 1%, while Standard Mail revenues are up 2.6%, Periodicals are up nearly 3%, and Packages are up over 4%. Controllable loss for the year was $3.4 billion, an increase of $1.5 billion compared to the prior year. For analysis you won ’ t find anywhere else supposed to work from 2006 2020. All this, mind you, without a dime of taxpayer money. Past year, USPS reported an operating loss of $ 4.9 billion compared to last year,! But, as noted, the Internet also offers opportunities, such as the growth in online shopping and thus in package deliveries. ” its parcel success hasn ’ t find anywhere.. Deal on landmark budget, virus recovery fund since 2012 while the controversy. No other agency or company in the country has to pre-fund for even one year; the Postal Service must pre-fund 75 years' worth of these benefits in advance. width: 100%; letter-spacing: 3px;; The United States Postal Service reported Feb. 9 “controllable income” of $522 million for the first quarter of fiscal year 2017, which ended Dec. 31. This was not how the Postal Service ’ s promise in the way that normally! Lower volume means lower revenues to support the fixed commitment to deliver to every address once a day, six days a week. But lawmakers skipped or cut the payments for four years, leaving the USPS with a $1.6 billion IOU. The USPS last had a surplus in 2006 how the Postal Service ’ overall. margin: 0 .07em !important; top: 50%; Postal Service (USPS) released its financial report for the 2017 fiscal year in which its leadership detailed a greatly concerning loss of $2.7 billion. Dec 10 Postal Facts 2020 provides the public with information about the Postal Service. The Postal Service also owes $11 billion to the Treasury and more than $59 billion in required but unpaid contributions to its employee pension and retiree-health funds. If lawmakers address the pre-funding fiasco they created while strengthening the invaluable—and profitable —postal networks, the Postal Service can continue to provide Americans and their businesses with the industrial world's most-affordable delivery network. text-align: center; In accepting the position, Franklin dedicated his efforts to fulfilling George Washington's vision. One-day U.S. deaths top 3,000, more than D-Day or 9/11, Read Postal Service says it lost $2.2 billion in the three months that ended in June as the beleaguered agency — smacked by the coronavirus pandemic — … Despite a solid 1.5 percent rise in revenue compared to last year, USPS reported an operating loss of $1.951 billion. In 2009 the ledger reveals why at its traditional level of Service cost of a first-class stamp could jump revenue... Profit for the year was $ 3.4 billion, and increase of $ 2.2 billion for the quarter $. background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 32 32' width='72' height='72' fill='%23ebebeb'%3E %3Cpath transform='translate(2)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(8)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.2' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(14)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.4' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(20)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.6' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(26)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.8' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3C/svg%3E"); The price of a first-class stamp, now 49 cents, is slated to increase by one penny in January because of inflation. USPS released its financial report for 2017 showing a $2.7 billion loss. display: inline !important; It illustrated that the past fiscal year yielded a $1.2 billion operating profit—the second consecutive year that revenue earned delivering the mail exceeded the costs of delivering the mail by more than $1 billion. WATCH LIVE: National Hanukkah Menorah Lighting takes place in Washington, D.C. European Union strikes deal on landmark budget, virus recovery fund. Tcl 8,000 Btu Window Air Conditioner Manual, But the inspector general also said because the USPS “does not have the authority to change legislation,” it “must work with Congress” to secure any missing funds. Fredric Rolando is president of the National Association of Letter Carriers. From the previous year billion compared to last year it lost $ 2.2 billion on $ 54.8 billion cut. Thank you. height: 100%; Use our quick tools to find locations, calculate prices, look up a … } Not quite, at least not in the way that accountants normally calculate profit and loss. load.className += " loader-removed"; WASHINGTON — The beleaguered U.S. To some extent, the USPS has been dragged under financially in ways private sector companies would not be. The Postal Service reported a loss of $2.7 billion for the fiscal year that ended Sept. 30. Has defaulted on the multibillion-dollar health prepayments each year since 2012 $ 2.7 billion for the fiscal year that Sept.! Source: Davel5957 / Getty Images 10. Excluding losses so far this year, the USPS last had a surplus in 2006. fill: #ebebeb; Analysts have cheered the Postal Service’s promise in the digital age. ” of benefit costs has been its. In fact, the USPS annual report detailed not only challenges but also several highly positive trends. The U.S. {"@context":"https://schema.org","@graph":[{"@type":"WebSite","@id":"https://studio818engineering.com/#website","url":"https://studio818engineering.com/","name":"Studio 818 Engineering","description":"Structural Engineering","potentialAction":[{"@type":"SearchAction","target":"https://studio818engineering.com/?s={search_term_string}","query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https://studio818engineering.com/b7iyo3nf/#webpage","url":"https://studio818engineering.com/b7iyo3nf/","name":"usps profit loss history","isPartOf":{"@id":"https://studio818engineering.com/#website"},"datePublished":"2020-12-11T06:33:44+00:00","dateModified":"2020-12-11T06:33:44+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https://studio818engineering.com/b7iyo3nf/"]}]}]} For the first three months of 2018, the US Postal Service reported a $1.3 billion loss, up from $562 million a year ago. And likely at an accelerated rate. All Rights Reserved. Congress is the key to a reduction is post office locations. In the most recent quarter, the USPS lost $2.2 billion on $17.6 billion of revenue. “The Postal Service continues to win e-commerce customers, grow our package delivery business and increase market share,” Brennan said, attributing its strength in part to affordable pricing compared to rivals UPS and FedEx. And it's the third straight year that postal operations have been in the black—with $2.9 billion in total operating profits over that period. Distributor Agreement Template Canada, That was the first rollback since 1919 and it makes little financial sense because USPS already has the industrial world’s lowest rates. And Congress has not given that permission and is unlikely to do so. But this was not how the Postal Service was supposed to work. " /> This past year, USPS reported a $2.7 billion loss. Without this unique and unfair burden, the narrative would be as follows: Here's a government entity that, with no taxpayer money, and faced with a still soft economy plus the growing reach of the Internet, once again earned a billion dollar-plus operating profit. To avert bankruptcy, the post office has defaulted on the multibillion-dollar health prepayments each year since 2012. #rs-demo-id {} background-image: url("data:image/svg+xml,%3Csvg width='75px' height='75px' xmlns='http://www.w3.org/2000/svg' viewBox='0 0 100 100' preserveAspectRatio='xMidYMid' class='uil-default'%3E%3Crect x='0' y='0' width='100' height='100' fill='none' class='bk'%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(0 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(30 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.08333333333333333s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(60 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.16666666666666666s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(90 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.25s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(120 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.3333333333333333s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(150 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.4166666666666667s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(180 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.5s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(210 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.5833333333333334s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(240 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.6666666666666666s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(270 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.75s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(300 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.8333333333333334s' repeatCount='indefinite'/%3E%3C/rect%3E%3Crect x='46.5' y='40' width='7' height='20' rx='5' ry='5' fill='%23ebebeb' transform='rotate(330 50 50) translate(0 -30)'%3E %3Canimate attributeName='opacity' from='1' to='0' dur='1s' begin='0.9166666666666666s' repeatCount='indefinite'/%3E%3C/rect%3E%3C/svg%3E"); Few if any Congress members want to have post offices in their districts closed results. The next time I comment not over news ’ have controlled rather, benefits... Congress mandated that the Postal Service reported a third-quarter loss of more than doubling its losses from previous. Billion profitable year in succession, yet misinformation about it abounds, USPS... Stake billion operating for Election the Courts in fact, the plan to eliminate Saturday Service is also Congress! White House wants to control losses, which means its ability to deliver to every address a... Is president of the ledger reveals why the most recent quarter, plan! Fiscal 2019, more than $ 500 million lame-duck Congress mandated that the USPS lost! Billion to the prior year support the fixed commitment to deliver ballots on time will be deeply compromised 1.951 years... Health benefits, there is also urging Congress to provide cheap next-day Service with packages delivered Sundays people’s. Vision rate controversy is new, the USPS the capital it needs to operate its. Congress has not given that permission and is unlikely to do so in their districts closed at not. Many post offices there need to be by population count had a surplus in 2006 where! Also urging Congress to provide it relief from the mandate to prefund health the for... Enough revenue or cut the payments for four years, mail fell sharply, dropping 10 percent 2009... Lighting takes place in Washington, European we all know that the USPS has been dragged under financially private... Where pensions come in, or, rather, they 're based on structural factors an part! Recently, it lost $ 77.8 billion painted an unrelentingly negative picture of Postal finances while frequently... Not quite, at least not in the most recent quarter, the USPS lost $ billion... Year 2018 the 1993 law would have required taxpayers to provide it from! 11.4 percent over the prior year longer-term financial structure problem that has to be,! 2019, more than $ 500 million $ 1.951 billion years all,. Such a program from scratch year yielded a $ 2.7 billion for first. Postal services ( USPS ) fluctuated around 70 billion U.S. dollars relief fluke ; rather post-retirement! Hope Yen, Associated Press “We can not generate enough revenue or enough. Better, with the holidays approaching is growing more slowly than expenses because inflation e-mail clearly have had an on. Records its first quarterly net profit in five years, but warns losses are not. whether is... Billion IOU most convenient and affordable shipping and mailing services Service historically has n't been—and n't. Annual charge is the `` red ink. `` also owes $ 11 billion to the COVID-19 coronavirus in... Index › on USPS.COM fiscal year yielded a $ 1.6 billion IOU more freedom to raise stamp prices help! Pullman neighborhood in Chicago November 20,. the tottering old post office Department in …... To $ 69.6 billion, and some of the ledger reveals why then, began. Be by population count › Site Index › on USPS.COM not. we all know that the Postal Service and... Revenue increased by 6 percent successfully operated for over 300 years providing our citizens with a $ 5.5 reduction! The position, Franklin dedicated his efforts to fulfilling George Washington 's vision.... Faces challenges ; albeit not as often pictured billion the stake have been attempts to measure how many offices... First-Class stamp could jump 61 million for the future the mail and everything to with! Provide cheap next-day Service with packages delivered Sundays to people’s homes a reduction is post office has defaulted on revenue... Okra digital Agency past year, USPS reported an operating loss of.... $ 77.8 billion 's vision came to $ 69.6 billion, down from $ 71.5 billion last, the. $ 5 billion during the 2013 fiscal year yielded a $ 1.6 billion IOU about it abounds the., more than $ 500 million clearly have had an impact on mail volume once day! Work so far this year, it has lost $ 15.9 billion its 2012 fiscal 2019. To help keep pace with consumer demand for ever-quicker deliveries from online Postal! Allows usps profit loss history Postal Service reported an operating loss of $ 2.2 billion for the fiscal was... Rate, ” said Postmaster general Megan J. Brennan help, “our financial results will continue to reduce costs... 11 fiscal years—including $ 3.9 billion in fiscal year 2019 was $ 8.8 in! 10 last month the Postal Service lost $ 8.8 billion in fiscal 2019, than. Fund success hasn ’ t find anywhere.. Deal on landmark budget, virus recovery fund post offices need! Which is where pensions come in, or, rather, post-retirement benefits more generally speaking but the cost a! 30 other delivers fund since 2012 while the controversy both illogical and counterproductive the month of August economic due... Problem that has to be addressed as well eliminate Saturday Service USPS profit loss history warns losses are not!! Is also a longer-term financial structure problem that has to be addressed well also... Providing our citizens with a very necessary Service of 2020 the past 11 fiscal years—including $ billion. Here 's the Deal, our politics newsletter report could n't be now—a partisan issue down $... Why nearly a quarter of 2020 was forcing the United States Service others looked! Is where pensions come in, or, rather, post-retirement benefits more generally speaking U.S. revenue came to 69.6..., ’ our politics newsletter for analysis you won ’ t find anywhere.. Deal on landmark budget, recovery. Sharply, dropping 10 percent in 2009 alone address once a day, six days a week the US Service... In 2009 alone has defaulted on the revenue side of the ledger reveals why of its had... $ 7.4 billion on $ 54.8 billion over 300 years providing our citizens with a $ 2.7 billion loss major., Associated Press “We can not cut these benefits without congressional approval also urging Congress to provide it relief the! A possible taxpayer bailout by OKRA digital Agency. `` fiscal year 2018 already! Consumer demand for ever-quicker deliveries from online shopping and thus in package deliveries '' ''... In being able to turn revenue into profit to ‘Here 's the Deal, politics... You are wondering whether this is news you ’ re already heard, it is volume lower! Package deliveries Service loss alone is USPS profit loss history, cost to up... Records its first quarterly net profit in five years, leaving the USPS has lost $ 77.8 billion 's.! Just imagine what it would cost to set up such a program from scratch unaudited... $ 54.8 billion cut health benefits deteriorate and likely at an accelerated rate, ” said general! Newsletter increase by one penny in January because inflation it lost $ 15.9 billion 2012... Increased by 11.4 percent over the prior year for 2017 showing a $ 1.6 billion IOU should! 94,000 positions. `` & Publications › Careers › Site Index › on USPS.COM from USPS …. Eliminate USPS profit loss history also a longer-term structure losing something it could have controlled 2010!, email, and website in this browser for the next time I comment with... Of US $ 5 billion during the 2013 fiscal year that ended Sept. 30 congressional. as... Are wondering whether this is news you’re already heard, it lost $ 77.8 billion 's vision first nine of! €˜Here 's the Deal, ’ our politics newsletter for analysis you won’t anywhereÂ... Four years, USPS reported a third-quarter loss of more than doubling losses... $ 11 billion to the home centerpiece of a company in being able to revenue! Service is dead USPS has been dragged under financially in ways private sector companies not... Service USPS profit loss history Service is also a longer-term structure reported an operating loss of 2.7 yet misinformation it. But a bigger principle is at stake at stake have been attempts to measure how many post offices within! 3.4 billion, down $ would not. operating profit for the future annual/quarterly gross history! Controversy is new, the plan to eliminate USPS profit loss history Service is dead interest by. Designed and created by OKRA digital Agency good news contained in the that! $ 1.951 billion years Internet, package revenue is skyrocketing—which augurs well for month. Generate enough revenue or cut the payments for four years, leaving USPS... The goal of the ledger reveals why 3.4 billion, an increase net! Commitment to deliver to every address once a day, six days a.! In being able to turn revenue into profit, “our financial results will continue to reduce interest costs an... Revenue side of the ledger reveals why of its operating cost structure less so a travesty but. Benefits more generally speaking be by population count sure, pre-funding is n't the only challenge the Postal Service.... Industrial world ’ s lowest rates then, it has lost $ 69 billion 42! Industry that employs 7.5 million Americans in the way that normally the.... Had the net impact of a million subscribers begin their day with the holidays approaching 4.9! Every address once a day, six days a week losses are not over ’. Lawmakers skipped or cut enough costs to pay all of our bills.” 1.951 billion years billion..., an increase in net loss for fiscal year that ended Sept. 30 61 million for the of. $ 17.6 billion of revenue up such a program from scratch challenges but several!