Nov. 25, 2014: The Postal Service’s financial results for October 2014—the first month of Fiscal Year 2015—were posted on the Postal Regulatory Commission’s website last night.
For October 2014, the Postal Service reported $633 million in operating income. This reflects a more than two-fold increase from the $274 million operating income reported in the same month last year.
Total mail volume was up nearly 7 percent over the same month last year, including a 7 percent increase in letter mail volume (First-Class and Standard combined) and a nearly 14 percent increase in Shipping & Package Services volume.
This is one of the best fiscal-year starts the Postal Service has had in many years. These strong results were made possible because of the level of service provided by postal workers, and because of the strong network of mail processing plants and post offices across the country.
The Postal Service had a $1.4 billion operating profit in 2014, a more than four-fold increase over last year’s $312 million operating profit.
Postal Service profitability has clearly turned the corner, as evidenced by the last two years of operating results, and the Postal Service’s forecast for an additional half billion of profit in 2015.
2014 saw record package revenue increases and the rate of decline in First-Class Mail volume slow markedly, both of which helped to propel the 2014 operating results.