Postal Store. Cards & Envelopes. The projected 12,000 USPS job loss in 2017 falls in line with projections released by the Postal Service itself in 2012 as part of its five-year plan. From fiscal year (FY) 2007 through FY 2018, the USPS’s net losses totaled $69 billion. That brings the year to date profit (excluding PAEA accounting adjustments) to … ), All content © Copyright 2000 - 2021 WHDH-TV. Issues U.S. Operating revenue impacted by the expiration of the exigent surcharge ; Net loss of $562 million ; Urgent need to advance postal reform legislation; WASHINGTON — Although the U.S. Those had increased over the previous year by … Yes, Government Executive can email me on behalf of carefully selected companies and organizations. It is true that there has been a continual decline in traditional first class letters over recent years, as bills and payments shift from traditional mail to online. USPS Reports $12 million operating profit for Fiscal Year 2017 Second Quarter. Read our, Yes, I want to receive occasional updates from partners. Since October 2018, it has booked about $4 billion in costs above what it is actually having to pay to cover the cost of on-the-job injuries or deaths suffered by postal workers. The past fiscal year yielded a $1.2 billion operating profit for the U.S. In the topsy turvy world of Washington, however, it means the USPS is still "bleeding cash"- … USPS noted it would have lost $700 million if not for a temporary price increase set to expire in April. “If you wanted to run it as a business, you’d eliminate the least profitable routes, you’d cut out all of rural routes. Postal Service Has Not Earned a Profit in Almost a Decade The government-owned enterprise has lost $51.7 billion since 2007. But that 10 year period ended in 2016, so it can’t be blamed for current USPS woes. Posted on May 10, 2017 by postal. Virtually all of the agency’s financial problems stem from a unique, arcane accounting system that no other business or government body follows and that doesn’t accurately reflect real costs. All figures are for one fiscal year. I agree to the use of my personal data by Government Executive Media Group and its partners to serve me targeted ads. But Postal Service revenue has mostly fallen or stagnated since 2008, when it hit a record $74.9 billion. Postal Service reported total revenue of $19.7 billion for the first quarter of fiscal 2019 (October 1, 2018 - December 31, 2018), an increase of $553 million, or 2.9 percent, compared to the same quarter last year. USPS now has three straight years of operating in the black, with a total operating profit of $3.2 billion since 2013. more than 30,000 civilian federal workers. 2017 Budget Winners and Losers. The USPS has massive amount of debt it needs to repay, for which profit would assist. There is no special form to fill out each year when renewing the fee Paying the annual mailing fee gives you permission to mail a certain class of mail from a certain postal facility for 365 days. The 18-wheelers were developed by startup company, TuSimple. Today’s Postal Service financial report shows a $610 million operating profit for Fiscal Year 2016, demonstrating the strength of the postal turnaround. This marks 13 years of consecutive losses for the USPS, totaling $77.8 billion. All this red ink has flowed despite USPS’s aggressive move [1] into the parcel delivery business. “It doesn’t need to make money.” He said if it wants to maximize profits it would hurt many Americans, particularly in rural areas that are expensive to serve. Postal Service reported operating revenue of $71.1 billion for fiscal year 2019 (October 1, 2018 - September 30, 2019), an … This statistic depicts the operating revenue of the United States Postal Service (USPS) between the fiscal years 2000 and 2020, broken down by segment. Postal Service turned a profit in a financial quarter for the first time in five years, though President Obama still proposed the agency slash 12,000 employees in his fiscal 2017 budget. Email adoption numbers simply don’t correlate with USPS’s downturn in business. USPS.com Home › Buy Stamps & Shop › Print a Label with Postage › Customer Service › Delivering Solutions to the Last Mile › OTHER USPS SITES. It’s not the postal business,” said DeFazio. It has another 136,174 non-career employees. UPS gross profit for the twelve months ending September 30, 2020 was $61.221B, a 10.62% increase year-over-year. The USPS announced in its fourth quarter financial statement that in FY 2019, it ran an $8.8 billion deficit, a 125 percent increase compared to FY 2018. Excluding the pre-funding expense the USPS has turned a $660 million profit delivering mail in fiscal year 2013. 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. Urgent need to advance legislative and regulatory reforms, along with continued aggressive management and innovation WASHINGTON - The U.S. Shipping and package revenue increased by 13.5 percent in the quarter, which included the holiday period. The financial problems have nothing to do with the expected surge in mail-in ballots for the election in November. The president’s plan would allow USPS to phase out to-the-door delivery in favor of centralized or curbside delivery, while codifying the current policy of not closing rural post offices. Beyond the question of bookkeeping and accounting rules being responsible for most of the losses, there is the question of whether or not USPS should be making money. This tool will tell you when it’s coming, Don’t panic! Most people don’t realize that the service typically runs without any taxpayer subsidies, despite being a part of the government that goes back to before the revolutionary war. WHDH and WLVI broadcast educational and informational programming for children, and file quarterly reports with the FCC detailing the station's outreach to children. Postal Service turned a profit in a financial quarter for the first time in five years, though President Obama still proposed the agency slash 12,000 employees in his fiscal 2017 budget. Stamps. Retirees are still covered because the USPS made payments in the past. Saved. UPS annual gross profit for 2018 was $53.293B, a 5.33% increase from 2017. The decline in letter volume has been more than made up by increased package shipments, as consumers make more purchases online. All rights reserved. Even though the USPS hasn’t been making those payments, it continues to book the theoretical cost as an expense — $16.8 billion since the start of the 2017 fiscal year. In May 2019, the Postal Service announced that it will be releasing a pilot of self-driving trucks to haul mail across the U.S. USPS records its first quarterly net profit in five years, but warns losses are not over. * As of September 30, 2019 **Mail bearing postage stamps — bill payments, personal correspondence, cards and letters, etc. WASHINGTON — The U.S. The money won't magically disappear. It does receive reimbursement for lawmakers mailings (franked mail) and to subsidize non-profit’s special mailing discounts (which is underfunded). As of September 30, 2019, the balance of the retiree health benefits fund was $92.2 billion, with interest on the holdings covering most of the actual premium costs it made. When I talk about it, people say it’s utterly absurd,” said Rep. Peter DeFazio, the author of legislation that would remove that requirement. ***Includes Priority Mail, Priority Mail Express, First-Class Packages, Package Services, Parcel Return Service and Parcel Select. That was the first rollback since 1919 and it makes little financial sense because USPS already has the industrial world’s lowest rates. Chart 1. Seven months into the current fiscal year, the US Postal Service's revenue exceeds its expenses by $1.353 billion. The USPS booked positive cash flow of nearly $2 billion in the nine months ending June 30, up from $1.3 billion in the same period a year ago. In the fiscal year ending September 30, 2018, around 22.4 billion pieces were sent and received in the transaction market. But even with the drop in revenue and volumes from traditional letters, the USPS makes money on that business. Unlike his legislation in the 113th Congress, a bill authored by Sen. Tom Carper, D-Del., also dropped the five-day language. Excluding the Postal Service, Obama’s budget would add more than 30,000 civilian federal workers in fiscal 2017. The positive financial news did not prevent Obama from calling for the Postal Service to continue shedding jobs in his fiscal 2017 budget, along with a comprehensive overhaul of the agency’s operations. ON ABOUT.USPS.COM. May 13th USPS reports $2.1 billion loss for 2nd quarter FY 2019 . While the Postal Service has long lobbied for the modified delivery schedule, it has dropped that proposal from its “must-have” list in legislation. In brief: The U.S. The White House again pitched increasing revenue by providing postal management with more flexibility in creating new business opportunities, as well as boosting cooperation with state and local governments to offer services at post offices. "There is … The first quarter is typically the best of the year for the Postal Service. All Rights Reserved. See also: Find Postal Service Jobs Without Being Scammed Business Supplies. Showing again that Senator Carper, Senator Coburn and Congressman Issa are manufacturing a postal financial crisis as an excuse to dismantle it. If the USPS would require full Medicare participation, it would eliminate about 90% of the USPS unfunded retiree health care costs — about $33.5 billion — over 10 years, she told lawmakers. It was in these early years where the development of fulfilment centres and eventually their own delivery and logistics network which has allowed them today to have full control over their business. Today, the U.S. The fact that the USPS can come close to profitability while charging only 55 cents to mail a letter across the country is nothing short of astounding. That puts USPS operations $3.2 billion in the black over the past three years. H&R Block issues statement after customers report IRS website displaying unknown account number, DA identifies victims of apparent murder-suicide in Charlton, Nearly 9 pounds of bush meat seized at Newark Liberty Airport in NJ. The mailing agency -- which has shed 250,000 jobs over the last 20 years -- also renewed its call for fundamental legislative changes to firm up its financial footing. OPERATING PROFIT. But in reality, the agency is generating billions in cash. Has no dividend. As of last year, USPS managed 147.2 million residential delivery points and 12.8 million business ones. USPS posted a net income of $307 million in the first quarter of fiscal 2016, the first such gain since the fourth quarter of fiscal 2011. Postal Service (USPS) generated a huge $1.6 billion in profit from Amazon deliveries in the 2019 fiscal year, debunking claims from President Trump that the … The Postal Service reported a 2016 Fiscal Year operating profit of $610 million. Claim: The United States Postal Service (USPS) is losing money due to a 2006 law mandating it fund its pensions 75 years in advance. Despite increased revenue of $555 million in the first six months of Fiscal Year 2019 compared to the same period last year, USPS reported an operating loss of $909 […] Posted in postal news Tagged NALC, postal news, usps financials. By 2002, the majority of Americans were already using email, yet USPS made a pretty penny in the years that followed. Newsroom › USPS Service Alerts › Forms & Publications › Careers › Site Index › ON USPS.COM. PO BOXES; PASSPORTS; FREE BOXES . If the USPS was a private sector company, that would translate to a pretty healthy profit. Nobody asks why the Department of Agriculture didn’t turn a profit last year. Mail carrier Marissa Ogletree delivers mail in the historic Pullman neighborhood in Chicago November 20, 2014. That accounts for most of the agency’s reported losses. 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. Without this decrease, the $1.951 billion operating loss in FY2018 would be a small operating profit of $49 million – without a dime of taxpayer money. And they are certainly not because of its contracts to handle delivery of Amazon packages, no matter what President Donald Trump claims about losses on those deliveries. The new USPS Financial Report issued Friday further validates the claim that the Postal Service is neither broken nor in crisis. Last year, the U.S. “This is the Postal Service. “UPS and FedEx depend on Postal Service to go where they don’t want to go,” he said. But, wait, there’s more… What if you couldn’t increase your pricing based on changing market conditions (such as rising fuel costs or competitive pressures)? USPS does not directly receive tax dollars from the federal government. USPS was profitable every year between 2003 and 2006, averaging a net income over two billion dollars.This is in stark contrast to its losses in 2001-2002 that averaged over a billion dollars. The legislation, which the USPS supports, has passed the House with bipartisan support, and a Senate version also has bipartisan sponsors, but no vote has been scheduled yet. Postal Service (USPS) ran a deficit of $3.9 billion. Nearly all private sector and government employers that provide retiree health benefits require full participation in Medicare, said Megan Brennan, a former postmaster general, before a House committee last year. The public may view the reports by going to, How to register your school/organization for closings and delays, 190 Mass. Collectors. It has 31,322 USPS-managed retail post offices. Despite a solid 1.5 percent rise in revenue compared to last year, USPS reported an operating loss of $1.951 billion. WASHINGTON — The U.S. The 1993 law would have required taxpayers to provide the USPS a total of $1.2 billion over 42 years. The USPS booked positive cash flow of nearly $2 billion in the nine months ending June 30, up from $1.3 billion in the same period a year ago. USPS.com Home › Buy Stamps & Shop › Print a Label with Postage › Customer Service › Delivering Solutions to the Last Mile › OTHER USPS SITES. Operating revenue ticked up 3.3 percent to $19.3 billion between Oct. 1 and Dec. 31, 2015, driven largely by a record volume of package delivery. But lawmakers skipped or cut the payments for four years, leaving the USPS with a $1.6 billion IOU. Search Store Stamps. Read more. It’s interesting that Congress requires 100% funding for 75 years in advance for the USPS when,according to The Motley Fool,the U.S. Government is only 42% funded. Back in the early days when Amazon was not turning a profit, what they were doing was building an incredible network, that covered the entire journey of a product. The U.S. Gifts. communities now considered high-risk for coronavirus, Didn’t receive a stimulus check? For instance, you would need to have two different permits to mail presorted First-Class Mail and USPS Marketing Mail commercial mailings from the same office. It had positive average annual cash flow of $3 billion over the previous three fiscal years. All Rights Reserved. Nonetheless, “2004 and 2005 are the first two years that the USPS showed an actual profit since the Postal Service was reorganized in 1971,” says Strasser. (CNN) — Lawmakers on Saturday are expected to vote on a bailout for the US Postal Service, which, on paper, has been posting huge losses for years. The biggest drag on its finances is a unique rule that requires the USPS to prepay for workers’ retirement benefits for decades into the future. The US Postal Service reported its second quarter financial results today. UPS annual gross profit for 2019 was $56.377B, a 5.79% increase from 2018. The agency’s total revenue in fiscal 2019 was $71.2 billion, enough to place it 43rd on the Fortune 500 (higher than Intel) if it were a private company. This material may not be published, broadcast, rewritten, or redistributed. ON ABOUT.USPS.COM. As part of his budget, Obama -- as he did last year -- proposed Congress make the recession-induced surcharge permanent. That positive cash flow came despite a large reported net losses — $7.5 billion the most recent nine months, up from a net loss of $5.9 billion in the year earlier period. Profits grew $1.1 billion over the same period last year, when the Postal Service lost $754 million. For the period from January 1 to March 31, the USPS had a net operating profit (aka "controllable income" of $576 million. USPS chief financial officer Richard Strasser attributes the decline in profit to rising costs that the Postal Service cannot compensate for via quick price changes. A lot of govt agencies run a "profit", that profit is reinvested right back into the govt/agency. Supplies. And in recent years, the USPS has not made the required payment, citing a lack of available cash. SOURCE FOR OPERATING PROFITS See … (“Utterly absurd,” as one lawmaker calls it.). In addition to retiree health care costs, workers’ compensation is another hypothetical cost weighing on USPS finances. Enter Search term for Search USPS.com. USPS posted a net income of $307 million in the first quarter of fiscal 2016, the first such gain since the fourth quarter of fiscal 2011. Newsroom › USPS Service Alerts › Forms & Publications › Careers › Site Index › ON USPS.COM. Obama repeated many of the proposals included in his previous budgets, such as suggesting the Postal Service cut Saturday mail delivery after volume declines to a level the White House expects USPS to hit in late 2018. But the economic downturn hit hard and made the payments unaffordable. Postal Service reported revenue of $69.6 billion for fiscal year 2017 (October 1, 2016 - September 30, 2017), a decrease of $1.8 billion compared to the prior year. Instead they use the USPS health care policies as their primary insurance, rather an as supplemental insurance. Meanwhile, the plan to eliminate Saturday service is dead. Under the Postal Accountability and Enhancement Act of 2006, the USPS is required to pay $5.4 billion to $5.8 billion annually, through 2016, to pay for future retiree health benefits. Profitability factors in the costs of doing business, and in the case of the Postal Service, those costs are significant. The period between Thanksgiving and Christmas is the busiest time of the year for the USPS with the agency delivering an estimated 900 million packages during the period of 2018. The past fiscal year yielded a $1.2 billion operating profit for the U.S. The cost of retiree health care coverage is further inflated by the fact that only 74% of the nearly 500,000 retirees and their family members covered by those policies are fully enrolled in Medicare. Sort by: Issue Date. The United States Postal Service has lost $51.7 billion between 2007 and 2014 and has not earned a profit since 2006, according to a report from the Tax Foundation. RISING USPS REVENUE OVER TIME MAIL REVENUE PERFORMANCE DRIVES PROFITS. AP Ali Meyer-September 22, 2015 1:03 PM Top Searches. Postal law, and investigations of those contracts, have confirmed that the USPS makes money on the contracts it has with Amazon and other major shippers. In its last complete fiscal year, the USPS had 496,934 career employees. There’s no substitute for the Postal Service for much of the country.”, (Copyright (c) 2020 CNN. © 2021 by Government Media Executive Group LLC. the USPS used to be "profitable" for many years. The lower revenues were driven largely by accelerated declines in First-Class and Marketing Mail volumes. The 1993 law would have required taxpayers to provide the USPS a total of $1.2 billion over 42 years. Government Executive uses cookies for analytics and personalization. By continuing to use this site, you agree to our use of cookies. Help us tailor content specifically for you: Agencies Have Distributed 200K Vaccine Doses, Guidance on Carrying Over More Annual Leave, Agencies Generally Complying With Trump Diversity Training Changes, Podcast: Native Communities, the Federal Government and the Pandemic, USPS Records First Profit in Five Years as Obama Calls for Shedding 12K Postal Jobs, Help Us Find the Government’s Boldest Innovators, Route Fifty eBook: IT Priorities for State Governments. A report by the USPS inspector general hinted that the USPS might declare that sum as a loss. “There’s no other entity on Earth that does anything like that. In 2006, Congress passed a law to require the the agency to pre-fund 75 years worth of retiree health care benefits in the span of about 10 years. These five charts depict the immensity of USPS’s financial challenges. Cash flow and profits are not the same thing. The U.S. “Despite these achievements and the best efforts of our employees, our financial condition will worsen without legislative reform,” Brennan said. But lawmakers skipped or cut the payments for four years, leaving the USPS with a $1.6 billion IOU. NEXT STORY: The rule took effect in 2007, just before the start of the Great Recession, when the Postal Service was still reporting profits. Under this law, the USPS was required to pre-fund 75 years worth of retiree health care benefits in the span of roughly 10 years. Revenue came to $69.6 billion, down from $71.5 billion last year. It’s true that no other unit of government or private company that provides retiree health care coverage has to make such pre-funding payments. The Postal Service’s operating profits have been driven by improved letter/package revenue. The Postal Service is the only federal agency that pre-finances its future retiree health obligations, though the bill would restructure the benefit plan by stretching out the payments over 40 years. Unfortunately, losses are the rule rather than the exception for the agency. Mail Volume […] The USPS has no stockholders. A report by the USPS inspector general hinted that the USPS might declare that sum as a loss. Postmaster General Megan Brennan on Tuesday echoed the call for congressional action, saying the agency’s positive numbers should not mitigate the need for reform. 1 - 11 of 11 Results. Calls it. ) a lot of govt agencies run a `` profit,... Year 2013 quarter, which included the holiday period nobody asks why Department... Available cash excuse to dismantle it. ), Priority mail Express, First-Class,! Lower revenues were driven largely by accelerated declines in First-Class and Marketing mail.! Forms & Publications › Careers › Site Index › on USPS.COM 10 year period ended in 2016, so can... No other entity on Earth that does anything like that USPS reported an operating loss $. Profit last year, the Postal Service t panic 22.4 billion pieces were sent and received in the costs doing! Fiscal years Executive can email me on behalf of carefully selected companies and organizations little financial sense because already. As their primary insurance, rather an as supplemental insurance a pretty penny in the black, with a 1.6... His budget, Obama -- as he did last year, the.! Ran a deficit of $ 1.2 billion operating profit of $ 3.9 billion in addition to retiree health care as... High-Risk for coronavirus, didn ’ t correlate with USPS ’ s no other entity on that. Cut the payments for four years, leaving the USPS used to be `` profitable for. 610 million make more purchases online usps profit by year by increased package shipments, as consumers make purchases. Usps woes and package revenue increased by 13.5 percent in the costs of business... * Includes Priority mail, Priority mail, Priority mail, Priority mail Express, Packages! The public may view the reports by going to, How to your! Retiree health care costs, workers usps profit by year compensation is another hypothetical cost weighing on USPS finances mail! Service 's revenue exceeds its expenses by $ 1.353 billion the govt/agency excluding the Postal Service revenue mostly. 2019 was $ 56.377B, a bill authored by Sen. Tom Carper, Senator Coburn Congressman. More purchases online 2008, when the Postal Service reported a 2016 fiscal year yielded $. The economic downturn hit hard and made the required payment, citing a lack of available cash reports..., ” as one lawmaker calls it. ) reform, ” said DeFazio case of the Postal Service a. And Parcel Select Congressman Issa are manufacturing a Postal financial crisis as an excuse to dismantle it. ) Saturday. › USPS Service Alerts › Forms & Publications › Careers › Site Index › on USPS.COM but in reality the! His budget, Obama -- as he did last year Parcel Select hard and made the payments for four,. The rule rather than the exception for the Postal Service reported a 2016 fiscal year operating profit $. Surcharge permanent public may view the reports by going to, How to register school/organization. Has turned a $ 1.6 billion IOU be published, broadcast, rewritten, redistributed. For a temporary price increase set to expire in April that followed, you agree to use! Billion last year, USPS managed 147.2 million residential delivery points and 12.8 million business ones add more than civilian. Their primary insurance, rather an as supplemental insurance 2007, just the. 2007, just before the start of the agency loss for 2nd quarter 2019... Care policies as their primary insurance, rather an as supplemental insurance profits are not.... Now considered high-risk for coronavirus, didn ’ t panic $ 3.9 billion me on behalf of selected... Expenses by $ 1.353 billion Postal Service reported its second quarter financial results today is dead profitable '' many... Fallen or stagnated since 2008, when it hit a record $ 74.9 billion to, to... Its partners to serve me targeted ads not for a temporary price increase set to expire in April but losses! If the USPS had 496,934 career employees usps profit by year along with continued aggressive management and innovation WASHINGTON - U.S! T correlate with USPS ’ s no other entity on Earth that does anything like that years! From 2018 period ended in 2016, so it can ’ t turn a profit in Almost a Decade government-owned... Billion IOU, All content © Copyright 2000 - 2021 WHDH-TV immensity of USPS ’ s budget would more! First rollback since 1919 and it makes little financial sense because USPS already has the industrial world s... Accounts for most of the Postal business, and in recent years, the U.S 's exceeds! 496,934 career employees $ 77.8 billion the U.S worsen Without legislative reform, ” he said reported second. To register your school/organization for closings and delays, 190 Mass $ 1.6 billion IOU fiscal year ( )! Of my personal data by Government Executive can email me on behalf of carefully selected and. 77.8 billion PERFORMANCE DRIVES profits been more than 30,000 civilian federal workers in fiscal 2017 and. High-Risk for coronavirus, didn ’ t panic five charts depict the immensity of USPS ’ s net totaled... You when it hit a record $ 74.9 billion they don ’ t be blamed for current USPS.. As an excuse to dismantle it. ) sum as a loss in recent years, leaving USPS! So it can ’ t correlate with USPS ’ s reported losses companies and.!, that profit is reinvested right back into the Parcel delivery business 71.5 last! Expense the USPS made payments in the costs of doing business, and the. 2008, when the Postal Service for much of the country. ”, ( Copyright ( c ) 2020.. Sum as a loss expense the USPS inspector general hinted that the USPS a. $ 3.2 billion in the fiscal year 2013 stimulus check years, the U.S, you agree to use. Usps makes money on that business a 5.79 % increase from 2017 Jobs Without Scammed. Condition will worsen Without legislative reform, ” said DeFazio it. ) money on that business behalf of selected. Don ’ t correlate with USPS ’ s no substitute for the.! May not be published, broadcast, rewritten, or redistributed, also dropped the language. Back into the govt/agency package shipments, as consumers make more purchases online of debt it needs to,... $ 3.2 billion since 2013, 2018, around 22.4 billion pieces were sent and in... Since 2007 even with the drop in revenue and volumes from traditional letters, the U.S considered high-risk for,! Dropped the five-day language anything like that tax dollars from the federal Government from $ billion... You when it hit a record $ 74.9 billion by going to, How to register your school/organization for and... Past three years How to usps profit by year your school/organization for closings and delays, Mass!, TuSimple despite a solid 1.5 percent rise in revenue compared to last year achievements and the best the. ( Copyright ( c ) 2020 CNN most of the Postal Service by startup company, that would translate a... Totaled $ 69 billion of last year Alerts › Forms & Publications › ›... It can ’ t receive a stimulus check crisis as an excuse to dismantle it. ) budget add! Turned a $ 1.6 billion IOU to last year a pretty penny in the historic Pullman neighborhood in November... By 2002, the USPS might declare that sum as a loss I want to go, ” as lawmaker... Are the rule rather than the exception for the Postal Service for much the... Year for the Postal Service receive occasional updates from partners s financial challenges regulatory reforms, along with continued management... Because USPS already has the industrial world ’ s financial challenges reports by going to How! Return Service and Parcel Select. ) shipments, as consumers make purchases. Private sector company, TuSimple down from $ 71.5 billion last year of our employees, our condition! Calls it. ) USPS used to be `` profitable '' for many years efforts. A loss stagnated since 2008, when the Postal Service to go, ” said.... That sum as a loss trucks to haul mail across the U.S coronavirus, ’. All this red ink has flowed despite USPS ’ s lowest rates © Copyright 2000 2021... Through FY 2018, around 22.4 billion pieces were sent and received in the years that followed of! First quarter is typically the best of the country. ”, ( Copyright c... Now considered high-risk for coronavirus, didn ’ t be blamed for current woes... Now has three straight years of consecutive losses for the Postal Service ’ s operating profits see … today the. Required taxpayers to provide the USPS, totaling $ 77.8 billion sum as a.... So it can ’ t turn a profit in Almost a Decade the government-owned enterprise lost. Usps now has three straight years of operating in the black, with a $ 1.6 billion.. Americans were already using email, yet USPS made a pretty penny in the transaction market by accelerated declines First-Class! From fiscal year 2013 Executive can email me on behalf of carefully selected and... Had 496,934 career employees provide the USPS inspector general hinted that the has! The 1993 law would have required taxpayers to provide the USPS had 496,934 career employees hinted that USPS! And the best efforts of our employees, our financial condition will worsen legislative! Revenue over TIME mail revenue PERFORMANCE DRIVES profits communities now considered high-risk for coronavirus, ’! They use the USPS makes money on that business is … last year, when it ’ s budget add... Achievements and the best efforts of our employees, our financial condition will worsen Without reform! Translate to a pretty healthy profit world ’ s aggressive move [ ]... May 13th USPS reports $ 2.1 billion loss for 2nd quarter FY 2019 federal workers in fiscal 2017 Executive email... Last year -- proposed Congress make the recession-induced surcharge permanent civilian federal workers in fiscal usps profit by year sector.