![]() ![]() Shipping and Packages revenue decreased $738 million, or 7.9 percent, on a volume decline of 210 million pieces, or 9.7 percent. Overall, Marketing Mail revenue grew due to price increases despite the volume decline. As a result, political and election mail revenue and volume declined approximately $400 million and 2.3 billion pieces, respectively, compared to the same quarter last year. However, Marketing Mail volume in the same quarter last year was significantly positively impacted by political and election mail associated with the calendar year 2020 general election season. businesses remains strong due to healthy customer returns on investment and better data and technology integration. Marketing Mail has generally proven to be a resilient marketing channel, and as the economy has shown a recovery, its value to U.S. Marketing Mail revenue increased $304 million, or 7.3 percent, compared to the same quarter last year, despite a volume decline of 710 million pieces, or 3.6 percent. The revenue increase was driven by price increases, while the volume decline is reflective of the continuing migration from mail to electronic communication and transaction alternatives, which has been exacerbated by the pandemic. Despite these volume declines during the quarter, the Postal Service accepted for delivery more than 13.2 billion letters, cards, flats, and packages between Thanksgiving and New Year's Eve, exceeding the 12.7 billion accepted for delivery during the same timeframe in 2020.įirst-Class Mail revenue increased $160 million, or 2.5 percent, compared to the same quarter last year, despite a volume decline of 529 million pieces, or 3.8 percent. Revenue declined at a slower rate than volume due to price increases implemented during calendar year 2021. The Postal Service's operating revenue was approximately $21.3 billion for the quarter, a decrease of $202 million, or 0.9 percent, on volume decline of approximately 1.5 billion pieces, or 4.1 percent, compared to the same quarter last year. “These reforms will help ensure that the Postal Service can operate in a financially sustainable manner.” “We are encouraged that Congress is moving forward with postal reform legislation and strongly support enactment,” added DeJoy. In addition to the aggressive steps that management has undertaken, which are already producing positive service results, postal reform legislation is an integral part of the Postal Service’s recovery plan. ![]() “We continue to make structural progress to correct our long-term financial losses, drive greater efficiency, and achieve financial sustainability.” “We continue to improve on-time service performance, as was demonstrated during the recent holiday period and which is the result of our ongoing transformation, investments, and operating improvements across our processing and transportation network,” said Postmaster General and CEO Louis DeJoy. Service performance improvements are largely the result of significant organizational focus on implementing core elements of the Delivering for America plan, including network infrastructure investments, the installation of new package processing equipment, increased leased space, and enhanced efforts for workforce stabilization, to better meet customers' evolving needs during the 2021 holiday season and beyond. Service performance continued to improve during the quarter and remained strong through the volume surge associated with the holiday season. The increases in both net loss and adjusted loss were partially driven by inflationary impacts to operating expenses, including rising prices associated with energy and fuel expenses. generally accepted accounting principles basis, the Postal Service had a net loss of approximately $1.5 billion for the quarter, compared to net income of $318 million for the same quarter last year. Adjusted loss excludes non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control. ![]() 31, 2021), reporting an adjusted loss of approximately $1.3 billion for the quarter, compared to an adjusted loss of $288 million for the same quarter last year. Postal Service today announced its financial results for the first quarter of its fiscal year 2022 (Oct. ![]() Delivering for America plan provides clear strategies to structure the organization for success and significant progress has already been made.New strategic investments help meet the demands of the 2021 holiday season.Adjusted loss of approximately $1.3 billion for quarter, compared to an adjusted loss of $288 million for the same quarter last year.Postal Service Reports First Quarter Fiscal Year 2022 Results ![]()
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