Senator Carper Reacts to PRC Financial Analysis of U.S. Postal Service

April 2, 2015 – WASHINGTON – Today, Sen. Tom Carper (D-Del.), Ranking Member of the Homeland Security and Governmental Affairs Committee, released the following statement in reaction to the Postal Regulatory Commission’s second financial analysis report of the U.S. Postal Service’s financial results and 10-K statement: “This report from the Postal Regulatory Commission confirms much […]

PRC Releases Its Analysis of USPS Financial Health: Report Highlights Continuing Losses

Washington, DC – The Postal Regulatory Commission yesterday released its second Financial Analysis report of the Postal Service’s financial results and 10-K statement. The report was developed using information from the Postal Service’s FY 2014 10-K and measured against its FY 2013 and 2014 Integrated Financial Plan; Cost and Revenue Analysis report, Cost Segments and […]

USPS operating profit $1.4 billion for first five months of FY 2015

$1.4 billion Postal Service operating profit for first five months of FY 2015 (greater than operating profit for full FY 2014) For the fiscal year so far (October 2014-February 2015), the Postal Service has a $1.401 billion operating profit (see ‘Controllable Operating Income (Loss)’ line in the report linked here). This result, for the first […]

USPS reports $195 Million Operating Profit for January 2015 – YTD $1.325 Billion

On Feb. 25, 2015, the U.S. Postal Service’s financial results for the month of January 2015 were posted on the Postal Regulatory Commission’s website. For the month of January 2015, the Postal Service reported a $195 million operating profit. For the fiscal year to date, USPS now has a $1.325 billion operating profit. The $195 […]

Senator Carper says USPS $1.1 billion profit shows “urgent” need for postal reform

Yesterday the National Association of Letter Carriers wrote: The Postal Service financial turnaround is continuing into its third year of operating profitability, never more evident than in this quarter with its $1.1 billion operating profit and the increase to $7 billion in available cash. The CFO called it “a fantastic quarter.” But Senator Thomas Carper […]

Postal Service 1st quarter financial results release date announced

Postal Service 1st quarter financial results release date announced January 23, 2015 -Mark your calendars: The Postal Service will report its first fiscal quarter results (the period from Oct. 2014 through Dec. 2014) on Friday Feb. 6. The Temporary Emergency Committee of the Board of Governors session in Washington, DC, will begin at 8:30 a.m. […]

USPS Board of Governors Temporary Emergency Committee to meet Feb. 6

Financial Briefing Follows Open Session Meeting January 23, 2015 – WASHINGTON — The Temporary Emergency Committee of the Board of Governors of the U.S. Postal Service (“TEC”) will meet Feb. 6 in open session at Postal Service headquarters, 475 L’Enfant Plaza, SW, Washington, DC. The public is welcome to observe the meeting beginning at 8:30 […]

USPS Reports Revenue Increase, Prefunding contributed to $5.5 Billion Loss in Fiscal 2014

WASHINGTON — Due to a cyber-security intrusion that the U.S. Postal Service announced on Nov. 10, management and external auditors are currently reviewing significant financial applications to confirm that the incident did not compromise the financial data needed to file the Postal Service’s fiscal 2014 Form 10-K. There is no indication at this time that […]

Video: PMG reports on latest USPS financial results in message to employees

The Postal Service’s financial stability is improving, but significant challenges remain, says PMG Pat Donahoe. In his latest message to employees, Donahoe reviews the Postal Service’s financial results for the first half of the fiscal year (Oct. 1-Mar. 31) and discusses strategies for moving forward. “From a financial standpoint, compared to last year, we’re about […]

Why is the Postmaster General Understating Postal Revenue Gains?

In a May 9, 2014 press release, the Postal Service issued another quarterly press release turning an operating profit (of $261 million) into a loss. The supposed loss, an accounting fiction, was caused entirely by the 2006 law which generates a long-term loan to the Federal treasury, under the guise of “pre-funding” employee benefits. In […]