Total operating expenses were $19.8 billion for the quarter, an increase of $477 million, or 2.5 percent, compared to the same quarter last year. “The strong growth of our package volume in the third quarter was encouraging, but there is great uncertainty about whether that growth will be sustainable,” said Chief Financial Officer Joseph Corbett. Furthermore, the pandemic significantly increased the Postal Service’s expenses for supplies and services, such as personal protective equipment (PPE), and also increased paid sick leave, including new leave authorized by the Families First Coronavirus Response Act, enacted as Public Law 116-127 (FFCRA). Find out the revenue, expenses and profit or loss over the last fiscal year. November 13, 2020 November 13, 2020 Ina Steiner. Postal Facts 2020 provides the public with information about the Postal Service. August 7, 2020 / 2:57 PM / CBS/AP Concern grows over postal service . Welcome to USPS.com. Selected First Quarter Fiscal 2020 Results of Operations and Controllable Loss The Postal Service’s financial report for the first quarter of fiscal 2020 underlines the need for congressional action on common-sense legislative reform. USPS Financial Information (Unaudited) March 20201 ($ Millions) Actual Plan SPLY % Plan % SPLY Actual Plan SPLY % Plan % SPLY Revenue: Operating Revenue $6,063 $6,309 $6,006 -3.9% 0.9% $37,192 $37,521 $37,203 -0.9% 0.0% Other Revenue 1 1 1 0.0% 0.0% 5 3 9 66.7% -44.4% Total Revenue $6,064 $6,310 $6,007 -3.9% 0.9% $37,197 $37,524 $37,212 -0.9% 0.0% Operating Expenses: Personnel … USPS is experiencing unprecedented volume increases and limited employee availability due to the impacts of COVID-19. Cupertino, California — October 29, 2020 — Apple today announced financial results for its fiscal 2020 fourth quarter ended September 26, 2020. Compared to the same quarter last year, Marketing Mail revenue declined by $1.4 billion, or 37.2 percent, on a volume decline of 6.4 billion pieces, or 36.4 percent. ESG. USPS delivers Election Mail report December 30, 2020; USPS Loyalty Tiers Add Up to Additional Incentives for Small Businesses December 30, 2020; U.S. And That Was Before COVID-19 Hit. Revenue is projected to grow by $0.5 billion in 2020. Moving on to postal product revenues and volumes, it gets even worse. Data is currently not available : Back to USPS Overview ©2020, EDGAR®Online, a division of Donnelley Financial Solutions. Aviation mail security & hazardous materials. US/Canada Attendee Dial-in: 844-340-4622 Conference ID: 3738718, Attendee Direct URL: https://usps.webex.com/usps/onstage/g.php?MTID=e784cc54f36f90b61f20f0cf0ec39f41f, Alternate URL: https://usps.webex.com The following financial reports have been filed with the Postal Regulatory Commission as required by the Postal Accountability and Enhancement Act of 2006. However, actual results may differ significantly from current estimates. SEC Filings; Dividend History; Analyst Coverage; Annual Reports & Proxy; Operating Days; Quarterly Earnings; Investor Packet; News & Events expand News & Events. Selected Third Quarter Fiscal 2020 Results of Operations and Controllable Loss We have audited the accompanying Reclassified Financial Statements of the U.S. Fill in the blanks: The Postal Service recently reported operating revenue for the fiscal year that ended Sept. 30 was , while operating expenses were . The Postal Service reported total revenue of $17.6 billion for the third quarter of fiscal 2020, an increase of $547 million, or 3.2 percent, compared to the same period last year. 3  Expense for the annual payment due to OPM by September 30 of the respective fiscal year, to amortize the unfunded CSRS retirement obligation. The Postal Service reported total revenue of $17.6 billion for the third quarter of fiscal 2020, an increase of $547 million, or 3.2 percent, compared to the same period last year. USPS.com. Due to continuing secular declines in transaction mail, First-Class Mail revenue declined by $168 million, or 2.5 percent, on a volume decline of 571 million pieces, or 3.8%, and Periodicals revenue declined by $24 million, or 7.7 percent, compared to the same quarter last year. These increases were partially offset by a decline in workers' compensation of $885 million due to an increase in interest rates, also outside of management's control. First-Class Mail revenue decreased by $373 million, or 6.4 percent, on a volume decline of 1.1 billion pieces, or 8.4 percent. The results, released Aug. 7, show USPS reported total revenue of $17.6 billion for fiscal year 2020’s third quarter (April 1-June 30), up 3.2 percent compared with the same period one year earlier. Postal Service reported total revenue of $19.4 billion for the first quarter of fiscal 2020 (October 1, 2019 - December 31, 2019), a decrease of $363 million, or 1.8 percent, compared to the same quarter last year. We appreciate your patience. Sec. In the fiscal year of 2020, the USPS generated annual revenue of over 73.1 billion U.S. dollars. "Significant declines in our mail volumes as the result of the pandemic were largely offset by corresponding growth in our package business, but the reality remains that the Postal Service is in a financially unsustainable position absent significant fundamental change," said Postmaster General and Chief Executive Officer Louis DeJoy. Postal Service 'Unsustainable,' Says GAO. The call will begin at 5:30 p.m. ET on February 6, 2020, and is open to news media and all other interested parties. 1  Expense for the annual payment due to OPM by September 30 of the respective year, as calculated by OPM, to amortize the unfunded PSRHBF retirement health benefit obligation. Past and present of USPS USPS was formed in 1971 … There is little evidence that the Postal Service can turn its finances around on its own. This amount represents the noncontrollable portion of the expense recorded for normal cost of retiree health benefits. The Postmaster General, who started in June, also addressed the new postal service restructuring, calling it a "strategic plan to achieve operation excellence and financial … As a result of the pandemic, and to a lesser extent, secular mail declines, the Postal Service’s sales from mail services, its largest sales category, continued to significantly decline during the third quarter. Meanwhile, Shipping and Packages revenue increased by $146 million, or 2.3 percent, despite a volume decline of 84 million pieces, or 4.6 percent, compared to the same quarter last year. The Company posted record September quarter revenue of $64.7 billion and quarterly earnings per diluted share of $0.73. 2020 and 2019 amounts are based on OPM’s invoices for the respective years, each reflecting updated discount rate assumptions. For U.S. January 11, 2021 UPS to Release Fourth-Quarter 2020 Results on Tuesday, Feb. 2, 2021 Atlanta , Jan. 11, 2021 (GLOBE NEWSWIRE) -- UPS (NYSE:UPS) will announce its 2020 fourth-quarter results on February 2, 2021 , at approximately 6:00 a.m. Eastern Time . Postal Service (USPS) has funded its liabilities varies due to different statutory funding requirements specific to each benefit program and USPS's financial means to make payments. Payments are to be made through 2043 based on OPM invoices. Financials. For more information about the Postal Service, visit usps.com and facts.usps.com. This news release references controllable loss, which is not calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). The Postal Service relies on the sale of postal products and services to fund its operations and is significantly impacted by factors including, but not limited to, overall customer demand, the mix of postal services and contribution associated with those services, and the volume of mail and packages processed through its network. The ability to borrow an additional $10 billion under the CARES Act addresses the Postal Service's near-term liquidity crisis but does not address the Postal Service's broken business model. Florida Congressman urges PMG to provide reflective gear, flashlights to protect Postal Workers working after dark → One thought on “ NALC, USPS reach tentative National Agreement ” The truth says: November 25, 2020 at 5:06 pm Eighteen months for this? The net loss for the quarter totaled $748 million, a decrease in net loss of $789 million, compared to a net loss of $1.5 billion for the same quarter last year. In the waning days of 2020, President Trump signed HR 133, the Consolidated Appropriations Act, 2021. 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. 3  Expense for the accrual for the annual payment due to OPM by September 30 of the respective year, as calculated by OPM, to amortize the unfunded CSRS retirement obligation. ← USPS 2020 Holiday Shipping Deadlines. 12/28/2020 USPS Preliminary Financial Information, Unaudited, November 2020: 2020.12.23 Nov 2020 Monthly Financial Report to the PRC.pdf 2020.12.24-PFI Ltr.pdf Download All. Tag: USPS financials. Kevin R. Kosar is the vice president of research partnerships at the R Street Institute. … 2020 results. Le United States Postal Service (USPS) est le service postal gouvernemental des États-Unis, connu sous l'ancien nom « US Mail », tel qu'il est prévu par la constitution américaine. For the first quarter of fiscal year 2020, total work hours declined, compensation and benefits expense declined by $190 million, and total expenses were down approximately $1.1 billion. “While many of our network costs are fixed to meet our universal service obligations, we continue to aggressively manage operating expenditures under management’s control," said Chief Financial Officer and Executive Vice President Joseph Corbett. Shareowner Services. With election day less than a month away, concerns are mounting that the USPS … Compensation and benefits expense increased by $632 million, or 5.5 percent, primarily due to package growth, contractual wage increases and an increase in paid leave, including the newly authorized FFCRA leave. Annual Quarterly. Payments are to be made through 2043 based on OPM invoices. The USPS was already seeing declining Mail and increasing Package volume, and in the second half of its fiscal year 2020, it saw those trends accelerate due to the pandemic. Postal Service media resources, including broadcast-quality video and audio and photo stills, visit the USPS Newsroom. Marketing Mail revenue declined by $254 million, or 5.4 percent, on a volume decline of 1.7 billion pieces, or 7.9 percent, compared to the same quarter last year. Shareowner Services; Investor FAQs; … The Postal Service was designed to be a self-funding agency. Postmaster General and CEO Megan J. Brennan and CFO and Executive Vice President Joseph Corbett will host a telephone/Web conference call to discuss the financial results in more detail. Report on the Reclassified Financial Statements . It’s important to note that this goes on the books as red ink whether or not it’s actually paid in a given year. For example, USPS has been required to prefund its pension benefit liability over decades, and as shown in the table below, its pension liability is 94 percent funded. The USPS fiscal hole. Controllable loss for the quarter was $387 million, compared to a controllable loss of $103 million for the same quarter last year. For more information about the Postal Service, visit usps.com and facts.usps.com. In the near term, the Postal Service anticipates that these trends will continue given the surge in e-commerce as many Americans stay home due to the COVID-19 pandemic. Retiree health and retirement benefits expenses increased by $172 million, or 19.7 percent, and $233 million, or 15.8 percent, respectively, driven by revised actuarial assumptions outside of management’s control. Financials As a scientific nonprofit focused on advancing public health, USP applies the organization’s resources to advance our mission in many ways, including developing quality standards, advocating for policies that support quality and working with governments to help build some of the most critical capabilities needed to help ensure the quality of medicines. In addition to increased labor costs to support this volume increase, transportation expenses were impacted as logistics restrictions and limitations associated with the pandemic led to fewer modes of available transportation, especially air transportation. Postal Service reported total revenue of $19.4 billion for the first quarter of fiscal 2020 (October 1, 2019 - December 31, 2019), a decrease of $363 million, or 1.8 percent, compared to the same quarter last year. It merely postpones the impending liquidity crisis and the borrowings must be repaid in a period where cash shortages are forecasted. Financials. Find information on our most convenient and affordable shipping and mailing services. We appreciate your patience. Shareowner Services expand Shareowner Services. From the early 1970s through the turn of the century, the agency frequently broke even. Shareowner Services expand Shareowner Services. The U.S. SEC Filings; Dividend History; Analyst Coverage; Annual Reports & Proxy; Operating Days; Quarterly Earnings; Investor Packet; News & Events expand News & Events. Quarantines, stay-at-home orders, and travel and logistics restrictions in connection with the outbreak have affected retail and commercial customers, as well as suppliers and mail service providers. 2  Net amounts include changes in assumptions, valuation of new claims and revaluation of existing claims, less current year claim payments. Package revenue for the quarter grew by $146 million. Aviation mail security & hazardous materials, https://usps.webex.com/usps/onstage/g.php?MTID=e784cc54f36f90b61f20f0cf0ec39f41f. Copy. WASHINGTON – The U.S. Despite our very significant challenges, I remain optimistic about the future of the Postal Service, but we need to get moving to effect change immediately.". Wallpaper Flare. “The Postal Service reduced work hours by 6.4 million relative to the same quarter last year, helping us to reduce overall compensation expenses.”. Postal Service. From 2004 through 2006, the agency made $6 billion in profits, according to financials filed with Congress. We substantiated $8 billion in savings and found USPS’s estimates ($9.7 billion in 2016-2018) may be … Annual. 12/01/2020 Postal Service Letter dated December 1, 2020, for Filing Data Sharing Agreements Pursuant to 39 U.S.C. A live audio webcast of the 04/16/2020 11:12 AM EDT. Don’t see it. That figure now stands at $55.433 billion. In the past 11 years, USPS’s revenue hasn’t covered its costs. Secular declines in mail have continued to negatively affect mail revenue and volume, and those declines have been significantly exacerbated by the effects of the COVID-19 pandemic. 4  Expense for the annual payment due to OPM by September 30 of the respective fiscal year, to amortize the unfunded FERS retirement obligation. Even by 2020 standards, the United States Postal Service is having a terrible year. Avec plus de 500,000 employés, USPS est le 3ème plus grand employeur des USA (juste après le département de Défense et Walmart). Financial briefings. Payments are to be made through 2056 based on OPM invoices. The 2020 Integrated Financial Plan (IFP) anticipates continued financial challenges for the Postal Service, resulting in a projected controllable loss of $4.0 billion and a net loss of $7.6 billion in 2020. We found USPS overestimated its cost savings from these efforts. Meanwhile, Congress should address the pre-funding burden it imposed in 2006, which requires USPS – alone among all public and private entities in the country – to prefund future retiree healthcare benefits at an annual cost of about $5.8 billion. Small Business Advocate Pushes for USPS Reform, Not a Bailout: Q2 Financials Show Massive Losses By SBE Council at 8 May, 2020, 3:08 pm NEWS For Immediate Release . This increase is … Postal Service media resources, including broadcast-quality video and audio and photo stills, visit the USPS Newsroom. Already down $5.3 billion for FY 2020, the USPS is well on its way to its 14th consecutive year in the red. However, the package volume increases drove substantial increases in workhour and operating expenses. Title: USPS Form 10-K FY 2020 Author: U.S. Postal Service working to clear holiday shipping backlog in Maine December 28, 2020; Kentucky mail carrier threatened on Christmas Eve December 28, 2020; USPS: Impacts to Post Offices from the Nashville Bombing December 28, 2020 U.S. Il a été créé par un décret du Second Congrès continental le 26 juillet 1775 à Philadelphie sous le nom de « United States Post Office » sous Benjamin Franklin qui en fut le premier Postmaster General SBE Council Comments to the Postal Regulatory Commission on USPS’s Financial Condition, Cost Structures and Postal Rates, January 30, 2020. Managing Editor. Financial Briefing The coronavirus pandemic continues to have an unpredictable effect on the Postal Service, the organization’s latest financial report shows. En 2016, cette entreprise publique a généré plus de 71 millards de dollars de chiffre d’affaires puis acheminé 153 milliards de lettres et 5 milliards de colis. But in reality, the agency is generating billions in cash. More CFO information . Recent Posts. http://about.usps.com/what/financials/briefings/welcome.htm. Copyright© 2021 United States Postal Service. 5/7/2020: Financial Analysis of United States Postal Service Financial Results and 10-K Statement FY 2019 : FY 2019 Financial Analysis Report.pdf. This breaks from a trend of increasing total postal revenues [2] in recent years. Payments are to be made over a 30-year rolling period based on OPM invoices. The majority of volume declines in Marketing Mail were due to high levels of political and election mail in October and November of 2018, that were not replicated during the same period in 2019. The answer can be traced back to a 2006 law from Congress. Published Fri, May 22 2020 7:00 AM EDT Updated Fri, May 22 2020 … 5/7/2020 : Financial Analysis of United States Postal Service Financial Results and 10-K Statement FY 2019 : FY 2019 Financial Analysis Report.pdf. The first step toward such reform is the USPS Fairness Act, which a large bipartisan majority of the House of … Postal Service touts hiring spree while agency faces financial turmoil, 20 employee deaths There are 4,000 USPS employees in self-quarantine after possible exposure to … To help address this, USPS lowered its employee compensation costs—a significant part of its expenses—mostly by paying new employees less. ESG. The Postal Service reported total revenue of $17.6 billion for the third quarter of fiscal 2020, an increase of $547 million, or 3.2 percent, compared to the same period last year. These adjustments include workers’ compensation expenses caused by actuarial revaluation and discount rate changes, and the amortization of Postal Service Retiree Health Benefits Fund (PSRHBF), Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS) unfunded liabilities. The Investor Relations website contains information about UPS's business for stockholders, potential investors, and financial analysts. The USPS was already seeing declining Mail and increasing Package volume, and in the second half of its fiscal year 2020, it saw those trends accelerate due to the pandemic. The following table presents selected results of operations, reconciles GAAP net loss to controllable loss and illustrates the loss from ongoing business activities without the impact of non-controllable items for the three months ended June 30, 2020, and 2019: Interest and investment income (expense), net, PSRHBF unfunded liability amortization expense1, Change in workers’ compensation liability resulting from fluctuations in discount rates, Other change in workers’ compensation liability2, CSRS unfunded liability amortization expense3, FERS unfunded liability amortization expense4, Change in normal cost of retiree health benefits due to revised actuarial assumptions5. The correct answers appear at the end. Meanwhile, the Postal Service’s sales from Shipping and Packages experienced substantial growth as a result of the surge in e-commerce driven by the COVID-19 pandemic, and we expect this surge to abate as the economy opens. Forward-looking statements contained in this release represent the Postal Service's best estimates of known and anticipated trends believed relevant to future operations. Post Office. Copyright© 2021 United States Postal Service. However, overall volumes and mail revenues for the quarter were down, and we continue to face systemic profitability challenges due to our restrictive business model and mandated costs," said Postmaster General and CEO Megan J. Brennan. The agency’s retiree health benefits are in a far more concerning condition. The USPS recently released its finances for the first quarter of FY2020—traditionally its peak season—and they paint a bleak picture. The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations. The U.S. International sales accounted for 59 percent of the quarter’s revenue. Postal Service. Shareowner Services. 407(d)(2) USPS DSA filing letter 12-1-20.pdf. However, excluding non-cash fair value adjustments to the workers' compensation liability, total expenses were essentially flat compared to the first quarter of fiscal year 2019. Washington, D.C. – The United States Postal Service (USPS) released their second quarter financials today, which show losses of $4.5 billion. Pandemic Accelerates USPS Mail and Package Trends. Subscribe to the USPS YouTube channel, like us on Facebook and enjoy our Postal Posts blog. Follow. The Postal Service has no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In the fiscal year of 2020, the USPS generated annual revenue of over 73.1 billion U.S. dollars. Use our quick tools to find locations, calculate prices, look … Financials; Toplists; Alerts; Portfolio; Level 2 ; Boards; PLUS1 Crypto; Sitemap; Forex & Futures; World Exchanges; Follow Feed; USPS Releases Updated 2020 … Financial News; General News; Investor Calendar; Investor Presentations; ESG expand ESG. Controllable loss is defined as net loss adjusted for items outside of management’s control and non-recurring items. 2020 to stockholders of record as of the close of business on May 11, 2020. Chart 1. The Postal Service’s financial report for the first quarter of fiscal 2020 underlines the need for congressional action on common-sense legislative reform. Nov. 25, 2020 at 8:32 a.m. How much do you know about the Postal Service’s year-end financial results? Forward-Looking Statements At September 30, 2020, PSTL owned 691 postal properties (including a property accounted for as a financing lease) News & Events . 2020-05-18T20:38:24Z The letter F. An envelope. Publicly Released: Jan 17, 2020. The 2020 amounts are based on updated Postal Service estimates resulting from revised actuarial assumptions. 6/1/2020: Analysis of the Postal Service's FY 2019 Annual Performance Report and FY 2020 Performance Plan : USPS Perf Rpt and Plan.pdf. USPS is experiencing unprecedented volume increases and limited employee availability due to the impacts of COVID-19. It indicates the ability to send an email. The facts in this publication may be reproduced for the purpose of stating the fact itself, and in a business, informational, academic context and the like, and in the body of text discussing factual subject matter relevant to the fact being presented. Meanwhile, Shipping and Packages revenue increased by $2.9 billion, or 53.6 percent, on a volume increase of 708 million pieces, or 49.9 percent, compared to the same quarter last year. The US Postal Service reported its financial results for its fiscal year (October 1, 2019 – September 30, 2020) on Friday. Financials. "We demonstrated once again the power of our unrivaled network and our ability to provide solutions for our customers while growing package volumes during our peak period. 5  Represents the accrual for the portion of the increase in the annual normal cost payments due September 30, 2020, and 2019, attributable to revised actuarial assumptions and discount rate changes, based on OPM’s invoices for the respective year. "As we work on a plan to ensure our future, we will continue to focus on efficiency and revenue growth opportunities while delivering vital services for the country, and our dedicated employees on the front line continue to provide trusted, safe and secure service. Name: Year: Quarter: Date Title FileType Category Quarter; U.S. Follow us on Twitter, Instagram, Pinterest, and LinkedIn. The following table presents revenue and volume by category for the three months ended December 31, 2019, and 2018: (revenue in $ millions; volume in millions of pieces). Since 2007, the USPS’s net losses total $83 billion. The official reason for the recent service changes at the U.S. SBE Council Comments to the Postal Regulatory Commission on Current Issues and Pricing, June 21, 2019. Postal Realty Trust is focused on acquiring the network of USPS properties, which provide a critical element of the nation’slogistics infrastructure that facilitates cost effective and efficient last-mile delivery solutions. USPS Financials In USD thousands. Mail Volume Is Down and Not Coming Back (Billions of pieces) [2] Source: The R Street Institute from USPS annual report data. Overall postal revenues declined $363 million from the first quarter of FY2019. Financial losses pile up for U.S. Shareowner Services; Investor FAQs; … Postal Service Created Date: 20201112183800Z We have audited the accompanying Reclassified Financial Statements of the U.S. We cannot let the recent growth of our package business mask our underlying business model problems, and we are redoubling our efforts to develop a plan to ensure our viability to provide universal service to all of America.”, Third Quarter Fiscal 2020 Operating Revenue and Volume by Service Category Compared to Prior Year. Postal Service links. 1  Expense for the accrual for the annual payment due to OPM by September 30 of the respective year, as calculated by OPM, to amortize the unfunded PSRHBF retirement health benefit obligation. Payments are to be made over a 30-year rolling period based on OPM invoices. Oh yea, we were going to be rewarded for working during the pandemic. These forward-looking statements, which involve a number of risks and uncertainties, reflect current expectations regarding future events and operating performance as of the date of this report. Follow us on Twitter, Instagram, Pinterest, and LinkedIn. To understand the postal system’s dire financial straits takes some history. In June, President Trump appointed a new postmaster general, Louis DeJoy, to deal with the financial mess, with the USPS recording a net loss of $2.2 billion for the third quarter of 2020. see also Approved by a vote of 309 to 106, the USPS Fairness Act would repeal a 2006 law that requires the Postal Service to create a $72 billion fund to pay for the cost of its post-retirement health care costs, more than 50 years into the future.. This story is dedicated to all readers crippled with fear because your girlfriend's present hasn't left the warehouse in Kentucky yet. The United States Postal Service, an essential service millions of Americans use every day, is currently suffering a financial crunch exacerbated by the COVID-19 pandemic. The total loss for the first six months of the year is $5.2 billion. “At the same time, First-Class Mail and Marketing Mail have seen deep volume declines associated with the pandemic, and that lost volume may never return, as was the case following the Great Recession of 2007-2009. Payments are to be made through 2056 based on OPM invoices. These five charts depict the immensity of USPS’s financial challenges. The first step toward such reform is the USPS Fairness Act, which a large bipartisan majority of the House of Representatives voted for earlier this week. Postal Service gets new leader as it deals with big financial concerns Kristin Schwab Jun 15, 2020 A USPS mail carrier loads her truck in El Paso, Texas, in April. 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