USPS announces Q1 2020 results

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USPS has announced its Q1 2020 results, reporting total revenues of $19.4bn a 1.8% decrease in comparison to Q1 2019.

Total operating expenses were $20.1bn for the quarter, a year-on-year decrease of 5.4%, when compared to the same period last year.

In terms of segments; First-Class Mail revenue declined by $168m (2.5%), on a volume decline of 571m pieces, or 3.8%, compared to the same quarter last year. Marketing Mail revenue declined by $254m (5.4%), on a volume decline of 7.9%, or 1,742m pieces, or compared to the Q1 2019. Meanwhile, Shipping and Packages revenue increased 2.3% to $6,606m despite a volume decline of 84m pieces (4.6%), compared to the same quarter last year. Overall volumes decreased by 6.2% compared to Q2 2018.

“We demonstrated once again the power of our unrivalled network and our ability to provide solutions for our customers while growing package volumes during our peak period. Package revenue for the quarter grew by $146 million. 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.

Source: United States Postal Service

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