Total operating expenses came in at $19.3 billion. USPS financial problems have little to do with delivering the mail. Parcels are key. Happy New Year, everyone! Postal Services (USPS) fluctuated around 70 billion U.S. dollars. In view of the Government's announcement on the special work arrangements for government employees, all post offices will maintain their normal opening hours from Monday to Friday but advance their closing hours to 4pm, while their business hours on Saturdays will remain normal (General Post Office and Tsim Sha Tsui Post Office will advance their closing hours to 4pm on Saturdays). The call will begin at 11:00 am ET on November 14, 2018, and is open to news media and all other interested parties. To download the Historical Tables as a PDF, click here (362 pages, 6.4 MB). Reuters. The annual losses the post office has reported since fiscal 2007 have ranged from a low of $2.8 billion in 2008 to a high of $15.9 billion in … The total normal cost payment amount, calculated by OPM, is $3.7 billion and $3.3 billion, respectively. The Postal Service employs more than 97,000 military veterans and is one of the largest … You need a Single Account for unlimited access. For more information about the Postal Service, visit usps.com and facts.usps.com. Chart. Insufficient cost savings: The savings from USPS cost-reduction efforts have dwindled in recent years. The Post Office Lost $2 Billion In Just 3 Months. Overall, the post office had operating revenue of $65.2 billion in fiscal 2012, down $500 million from the previous year. ET Profit from additional features by authenticating your Admin account. By the end of the decade, the semi-independent government agency's losses had reached a record $8.5 billion, forcing the Postal Service to consider seeking an increase in its $15 billion debt ceiling or face insolvency. 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. In fiscal 2015, package revenue increased by 11.4 percent over the prior year. Revenue from ticket sales will plunge to $5.5 billion this year, down more than 50 percent from $11.4 billion in 2019, MoffettNathanson analyst Michael Nathanson predicted on Tuesday. Corporate solution including all features. http://about.usps.com/who-we-are/financials/welcome.htm, https://usps.webex.com/usps/onstage/g.php?MTID=e3161da429260c672d3fe035cac2519ab, http://about.usps.com/news/electronic-press-kits/cfo/welcome.htm. Complete financial results are available in the Form 10-K, available at http://about.usps.com/who-we-are/financials/welcome.htm. Excessive Losses. Write both the destination and return addresses clearly or print your mailing label and postage. 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. This has raised many concerns in the media regarding Post Office Ltd's ability as a company to operate efficiently. New, Figures and insights about the advertising and media world, Industry Outlook “We are aggressively managing our business and continuing to focus on serving our customers and communities. With 4,330 post offices, we have the nation’s most extensive retail footprint – and 2,520 of these offices are in regional Australia. Please authenticate by going to "My account" → "Administration". 2017 IMAX Release---$875,150-$875,150: Nov 17: Warner Bros. false: 280: Detective Jagga---$861,740: 210 See More Corbett added that the inability to make these payments does not affect the continued receipt or accrual of these benefits by retirees and employees. U.S. federal tax revenue is the total tax receipts received by the federal government each year. Postal Service reported operating revenue of $71.1 billion for fiscal year 2019 (October 1, 2018 - September 30, 2019), an increase of $514 million compared to the prior year. May 11, 2018 This article is more than 2 years old. The ideal entry-level account for individual users. Our network includes 15,036 street posting boxes, 5,412 motorbikes, 4,691 delivery vans, trucks, cars and utes, 1,235 electric delivery vehicles, 2,529 electric bikes, up to 17 airline freighters chartered each day, 481 facilities and 33,039 parcel lockers. In 2018, First-Class Mail volumes declined by approximately 2.1 billion pieces, or 3.6 percent, while package volumes grew by 394 million pieces, or 6.8 percent, continuing a multi-year trend of declining mail volumes and increasing package volumes. Mailing Tips. Most of it is paid either through income taxes or payroll taxes. E-commerce packages account for most of the USPS Parcel Select business, which brought in revenue of $6.8 billion on the delivery of 2.9 billion packages during the fiscal year … Meanwhile, the post office reported “controllable” earnings for the year of $610 million, down from $1.2 billion a year ago. Postal Service continued to bleed money during its second quarter, despite an increase in package revenues and an emergency price hike that took effect in January. WASHINGTON - The U.S. The USPS's financial woes were not brought on by the pandemic, though that has exacerbated them. Subscribe to the USPS YouTube Channel, like us on Facebook and enjoy our Postal Posts blog. Spreadsheets Accessed January 27, 2021. https://www.statista.com/statistics/320215/global-revenue-of-the-us-postal-service/, USPS. Then you can access your favorite statistics via the star in the header. The following table presents selected results of operations and reconciles GAAP net loss to controllable loss and illustrates the loss from ongoing business activities without the impact of non-controllable items for the twelve months ended September 30, 2018, and 2017: 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. (November 13, 2020). If you sold, gifted or transferred an asset between 1 December and 31 December 2020, the deadline for payment of any Capital Gains Tax due by 31 January 2021.. 21 January 2021 Career opportunities; 19 January 2021 Revenue seize over €12,000 cash at Dublin Port; 14 January 2021 Revenue update on Preliminary End … You can register for myAccount or you can access it using your MyGovID verified account. Previously, letters were taken to a Post Office, where the postmaster would note the postage in the upper right corner. Although mail volume declines were partially offset by growth in package volume, overall volume for the year declined by 3.2 billion pieces. November 13, 2020. Figures prior to 2016 were taken from previous editions. New, Everything you need to know about the industry development, Find studies from all around the internet. Faced with declining revenue, the Postal Service is asking Congress to allow it to close more than 3,700 post offices and 250 processing centers, and to eliminate Saturday delivery of mail. ", USPS, United States Postal Service's revenue from 2004 to 2020 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/320215/global-revenue-of-the-us-postal-service/ (last visited January 27, 2021), United States Postal Service's revenue from 2004 to 2020, Courier, Express and Parcels (CEP) market in the United States, Global size of the courier, express and parcel (CEP) market 2009-2019, Couriers and local delivery service providers' global market share 2010-2018, U.S. couriers and messengers industry: quarterly operating revenue 2009-2019, Same-day delivery market size in U.S. 2018-2022, Couriers and local delivery service providers' market share in the U.S. 2019, Number of couriers and messengers in U.S. 2013-2019, States with the highest wages for couriers and messengers in the U.S. 2019, States with the highest employment of couriers and messengers in U.S. 2019, U.S. postal services - total mail volume by market served 2014-2019, U.S. postal services - parcels received by type 2017-2019, U.S. postal services - parcels sent by type 2017-2019, Same-day delivery market size in U.S. by end user 2018-2022, Same-day delivery in the U.S. - share by segment 2018, The same day-delivery market in the U.S. - share by service type 2018, Customer satisfaction index of U.S. consumer shipping companies 2017-2020, U.S. consumer shipping companies - customer experience 2017-2020, Revenue of the courier, express and parcel (CEP) sector by region 2015-2025, Revenue growth in the courier, express and parcel (CEP) sector by region 2015-2025, Express and small parcels market size in North America 2012-2020, Last mile delivery in North America - market size 2018-2022, Top U.S. Statista. Values have been rounded. The Post Office Department issued its first postage stamps on July 1, 1847. In, USPS. The US government demands that the post office lose a lot of money. You need at least a Single Account to use this feature. The controllable loss for the year was $2.0 billion, an increase of $1.1 billion. Using a qualitative assessment of the Postal Service’s finances, the Commission has determined that: Post Office Saving Account customer to submit duly filled request form in respective Post Office, After enabling desired service in customers Savings Accounts by Post Office, customer will get activation code on his/her mobile within 48 hours to proceed further. Warren Hastings had taken initiative under East India Company to start the Postal Service in India in 1688. The Postal Service provides a vital public service that is a part of the nation's critical infrastructure. Postal Service lost money in six out of the 10 years from 2001 through 2010, according to its financial reports. Brennan added that addressing these urgently needed reforms would then provide an opportunity to consider broader public policy issues and develop long-term solutions to continue to enable the Postal Service to best meet the needs of the American public. A post office that loses a few billion dollars a year is affordable for a country with a GDP of $20 trillion. The Postal Service reported a net loss for the year of $3.9 billion, an increase in net loss of $1.2 billion compared to 2017. Directly accessible data for 170 industries from 50 countries The concept that the Postal Service should be … USPS. myAccount allows you to access many Revenue services, using a single login and password. United States Postal Service - mail volume 2004-2020, Package revenue of FedEx Express 2013-2020. ”The secular mail volume trends continue largely due to electronic diversion and transaction alternatives. The net loss of nearly $2.3 billion comes on the heels of an already bleak fiscal year that saw a combined loss of $3.6 billion—$2.1 billion in quarter two and $1.5 billion in quarter one. The agency reported a loss of nearly $9 billion last year. A post office that loses a few billion dollars a year is affordable for a country with a GDP of $20 trillion. Controllable loss is defined as net loss adjusted for items outside of management’s control and non-recurring items. Operating expenses for the year were $74.4 billion, an increase of $2.2 billion, or 3.1 percent, compared to the prior year. The Postal Service subsequently reduced its debt by $1.8 billion, finishing the year with $13.2 billion in debt outstanding. Overall, the post office had operating revenue of $65.2 billion in fiscal 2012, down $500 million from the previous year. “We made the difficult decision to prioritize the maintenance of adequate liquidity to ensure the continued achievement of the Postal Service’s primary mission of providing universal postal services to the American people," said Chief Financial Officer and Executive Vice President Joseph Corbett. Expenses climbed to … Please do not hesitate to contact me. Learn more about how Statista can support your business. … If it were a private sector company, the Postal Service would rank 44th in the 2019 Fortune 500. How to Participate: US/Canada Attendee Dial-in: 844-340-4622   Conference ID: 3592257, Attendee Direct URL:  https://usps.webex.com/usps/onstage/g.php?MTID=e3161da429260c672d3fe035cac2519ab, If you cannot join using the direct link above, please use the alternate logins below: Alternate URL: https://usps.webex.com Event Number: 997 025 409. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from. The Office of Tax and Revenue will be closed on Friday, January 1 in... observance of New Year's Day. Are you interested in testing our corporate solutions? Post office interest rate: Recently, we have discussed the list of Chapter-VIA (Sections 80C to 80U) deductions available in computing taxable income of a tax payer for Assessment Year 2021-22. These increases were partially offset by a $260 million reduction in expenses for the amortization of unfunded retirement benefits. facts. Postal Service lost $8.8 billion in fiscal 2019, more than doubling its losses from the previous year. A paid subscription is required for full access. Amending the law to let the post office raise prices at the CPI plus 1 percent could bring in an additional $700 million in revenue per year. 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