USPS Reports $586M Net Loss in Q3 and Double-digit Package Growth
The U.S. Postal Service reported a net loss of $586 million for the third quarter of fiscal 2015 (April 1, 2015 - June 30, 2015), a reduction of $1.4 billion from the net loss of $2 billion for the same period last year.
Operating revenue was $16.5 billion for the quarter, essentially unchanged from the same period last year. Due to the seasonality of its business, the Postal Service has historically experienced lower revenue during the third quarter of each year. A price increase impacting certain mail classes went into effect on May 31, 2015; however, this was offset by declining mail volumes as First-Class Mail and Standard Mail volumes fell 2.6 percent and 2.1 percent, respectively, compared to the same period last year.