By Jeff Berman ·
March 8, 2023
While the United States Postal Service (USPS) has seen what could be viewed as mixed fiscal year 2023 earnings results, in that it in February it reported 1.0% operating revenue gain and a $1.0 billion net loss, a trio of parcel experts told LM that the organizations is making inroads. These inroads come on the heels of its "Delivering for America 10-Year Strategic Plan” that was rolled out in March 2021 and focused on achieving financial sustainability and service excellence, in order to meet customer and business needs. The plan takes an ambitious approach focused on helping the USPS get on solid financial footing, as the organization has been in the red over the last 15-plus years.
By Jeff Berman ·
February 10, 2023
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.
By Jeff Berman ·
January 12, 2023
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.
By Jeff Berman ·
December 9, 2022
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.
By Jeff Berman ·
August 10, 2022
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.
By LM Staff ·
May 6, 2022
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, annually.
By Peter Moore ·
March 28, 2022
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.
By Jeff Berman ·
March 24, 2022
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.
By Jeff Berman ·
March 9, 2022
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.
By LM Staff ·
February 8, 2022
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.
By Jeff Berman ·
December 20, 2021
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.
By Jeff Berman ·
December 14, 2021
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).
By Jeff Berman ·
October 28, 2021
This data is based on millions of packages shipped via UPS, FedEx, and USPS.
By Jeff Berman ·
September 23, 2021
Data recently provided to LM by ShipMatrix, a subsidiary of Pittsburgh-based SJ Consulting showed somewhat mixed on--time performance (OTP) ranges, in July and August, for major parcel carriers, including UPS, FedEx, and the United States Postal Service (USPS).
By Jeff Berman ·
September 9, 2021
The Postal Regulatory Commission (PRC), a concern responsible for oversight of the United States Postal Service (USPS), including oversight of rates and services, and ensuring the Postal Service meets all of its legal requirements, recently approved proposed temporary price adjustments for key USPS package products for the 2021 peak holiday season.