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The net loss for the quarter was $4.5 billion compared to a net loss of $2.1 billion for the same quarter last year. USPS postage rates offer low-cost mailing and shipping prices for domestic & international customers. Total operating expenses were $22.3 billion for the quarter, an increase of $2.8 billion, or 14.2 percent, compared to the same quarter last year. 1. Although the Standard Mail experiences a slight lift in absolute volume in 2020, on a per-household basis this represents a decline, as the number of delivery points is expected to be ~10% higher in 2020. Postal Service said on its website that it was "experiencing unprecedented volume increases and limited employee availability due to the impacts of COVID-19." Payments are to be made through 2043 based on OPM invoices. Connect with our customer service representatives to help resolve your issue and get back on track. These types of mail brought in most of the $70.6 billion in operating revenue in 2018: First-Class Mail — $25 billion Marketing Mail … Since the beginning … USPS in Syracuse handling historic volume of mail during Christmas delivery crunch Local News Posted: Dec 22, 2020 / 04:12 PM EST / Updated: Dec 22, 2020 / 05:14 PM EST Postal Service reported total revenue of $17.8 billion for the second quarter of fiscal 2020 (January 1, 2020 - March 31, 2020), an increase of $348 million, compared to the same period last year. Meanwhile, Shipping and Packages revenue increased by $386 million, or 7.1 percent, on a volume increase of 12 million pieces, or 0.8 percent, compared to the same quarter last year. Plus, you can schedule a USPS ® pickup from your home or office. In 2005, the volume of Standard Mail surpassed the volume of the Postal Service’s flagship product First-Class Mail for the first time, with First-Class Mail volume … 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. Beginning in 2008, figures do not include First-Class Parcels and international pieces. The purpose of these scenarios is not to provide a single, definitive volume forecast. Follow us on Twitter, Instagram, Pinterest, and LinkedIn. Subscribe to the USPS YouTube channel, like us on Facebook and enjoy our Postal Posts blog. The total volume of mail and packages delivered during the year declined by 3.8 billion pieces or 2.6 percent, driven largely by First-Class Mail declines of 1.8 billion pieces, or 3.1 percent, … Postal Service has been under siege for months as record volumes of holiday packages and election mail ran up against a spike in coronavirus cases within its workforce, leaving the agency severely short-staffed,” the newspaper reported. The US Postal Service is working around the clock to ensure a timely delivery this year. She noted the Postal Service has logged a record volume of letters and packages needing to be moved at the same time the Postal … The Postal Service has and will continue to serve its customers during this crises through the delivery of medicine, essential consumer staples, benefits checks, and important information, but does not expect its package revenue growth over the medium to long term to offset its losses in mail service revenue caused by COVID-19. 2 Net amounts include changes in assumptions, valuation of new claims and revaluation of existing claims, less current year claim payments. Selected Second Quarter Fiscal 2020 Results of Operations and Controllable Loss The COVID-19 pandemic, which has severely affected the U.S. economy, began to negatively affect the Postal Service during late March with declining mail volume, and the impact has continued to worsen since then. The 2020 amounts are based on updated Postal Service estimates resulting from revised actuarial assumptions. 4 Expense for the accrual for the annual payment due to OPM by September 30 of the respective fiscal year, to amortize the unfunded FERS retirement obligation. Email: USPS ® Customer Service Call: 1-800-ASK-USPS ® (1-800-275-8777) Expect … Copyright© 2021 United States Postal Service. See Forever postage stamp prices and other postage rates. Since 1950: Annual Report of the Postmaster General (title changed to Annual Report of the United States Postal Service in 1996 and to Annual Report to Congress in 2011). If you're moving, submit a permanent change-of-address request so your USPS ® mail is properly rerouted to your new address.. USPS ‘may never fully recover’ from sudden drop in mail volume Industry estimates more than $20 billion in lost revenue USPS is experiencing unprecedented volume increases and limited employee availability due to the impacts of COVID-19. Controllable loss for the quarter was $792 million, a slight decrease compared to the controllable loss of $806 million reported for the same quarter last year. Excluding costs associated with discount rate changes, actuarial revaluation, and amortization of unfunded liabilities, which are outside of management's control, expenses increased by $328 million, or 1.8 percent, compared to the same quarter last year. However, actual results may differ significantly from current estimates. This news release references controllable loss, which is not calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These volume scenarios reflect different assumptions about the continuation of different historical trends. Financial results in the Form 10-Q are available at http://about.usps.com/what/financials/. Payments are to be made over a 30-year rolling period based on OPM invoices. Collect On Delivery Hold For … Each year from 2000 through 2003, total mail volume decreased. Compared to the same quarter last year, First-Class Mail revenue increased by $89 million, or 1.4 percent, despite a volume decline of 29 million pieces, or 0.2 percent. This growth was … In the near term the Postal Service anticipates that these trends will accelerate as the nation experiences a surge in e-commerce as a result of quarantines, shelter-in-place orders and travel and logistics restrictions in connection with the COVID-19 pandemic. Postmaster General & Executive Leadership Team. Secular declines in mail have continued to negatively affect mail revenue and volume, and the Postal Service believes those declines will be exacerbated by the effects of the COVID-19 pandemic. 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. 1926-1949: U.S. Post Office Department, Bureau of Finance and Administration, Mail Trends, Domestic and International, 1926-1966, March 1967, 15. Send Mail & Packages Convenient Domestic Shipping. Use our quick tools to find locations, calculate prices, look up a ZIP Code, and get Track & … “The U.S. Use Click-N-Ship ® service to pay for postage and print a shipping label from your printer or at a Post Office ™ location. The U.S. Compared to the same quarter last year, First-Class Mail revenue increased by $89 million, or 1.4 percent, despite a volume decline of 29 million pieces, or 0.2 percent. Forward-Looking Statements If you're only relocating for a short time to visit your second home or do an extended stay with relatives, submit a temporary change-of-address request so you can receive your mail … Forward-looking statements contained in this release represent the Postal Service's best estimates of known and anticipated trends believed relevant to future operations. Postal Facts (Number of Pieces Mailed, to the Nearest Million) An Act of February 28, 1925, authorized the Postmaster General to account annually for revenues and costs associated with different types of mail; annual analyses, with detailed estimates of mail volume… Updated: January 20, 2021 @ 9:56 pm The 2020 amounts are based on updated Postal Service estimates resulting from revised actuarial assumptions. mail volume erosion … defining a range in terms of mail volume erosion Source: OECD; Annual reports and interim reports local posts; Universal Postal Union; 2008–2013 Forrester estimates; TIA 2009 I TC Market review and Forecast … And single-piece FCM — or the type of mail … An Act of February 28, 1925, authorized the Postmaster General to account annually for revenues and costs associated with different types of mail; annual analyses, with detailed estimates of mail volume, are available beginning in 1926. The Postal Service said in a statement that it updated its financial forecast “to reflect our actual revenue and volume performance” during the pandemic. Postal Service says it's been facing "unprecedented volume increases and limited employee availability due to the impacts of COVID-19.” Mostly cloudy. Marketing Mail revenue declined by $94 million, or 2.5 percent, on a volume decline of 604 million pieces, or 3.4 percent. Certified Mail ® 9407 3000 0000 0000 0000 00. After reaching a peak of around 213 billion units in 2006, the U.S. Priority Mail ® 9205 5000 0000 0000 0000 00. This holiday season, the USPS says it's delivering a historic volume of mail and packages. The following table presents revenue and volume by category for the three months ended March 31, 2020, and 2019: (revenue in $ millions; volume in millions of pieces). Then, mail volume entered the new century. "Although the pandemic did not have significant impact on our financial condition in our second quarter, we anticipate that our business will suffer potentially dire consequences for the remainder of the year, and we are already feeling those impacts during the last half of March. US Postal Service Dealing With ‘Historic' Volume of Holiday Mail The American Postal Workers Union said nearly 19,000 postal employees are currently in quarantine USPS Tracking ® 9400 1000 0000 0000 0000 00. 8 facts.usps.com Mail is big business. USPS spokeswoman Freda Sauter confirmed that the mail is moving slower and attributed it to the impact of the pandemic on the workforce as large amounts of holiday mail has poured in. It is estimated that the COVID-19 pandemic will substantially increase the Postal Service’s net operating loss over the next eighteen months, threatening the Postal Service's ability to operate. Tonight. follow-up paper presents five projections of future volume of Standard Mail, the Postal Service’s primary advertising mail product. Aviation mail security & hazardous materials. PHILADELPHIA (WPVI) -- The record-shattering number of letters and packages the postal service has been trying to process is only one reason for a delay in mail delivery. The U.S. Louisville, KY (40203) Today. Service / Sample Number. Create a USPS.com(registered trademark symbol) account to print shipping labels, request a Carrier Pickup, buy stamps, shop, plus much more. Postal Service is the core of the $1.4 trillion mailing industry that employs more than 7.5 million people. Copyright© 2020 USPS. At a time when America needs the Postal Service more than ever, the pandemic is starting to have a significant effect on our business with mail volumes plummeting as a result of the pandemic," said Postmaster General and CEO Megan J. Brennan. We appreciate your patience. “We are unable to predict the duration of COVID-19 business closures and the duration of the recession we are currently experiencing; however, this situation will materially damage our financial condition," said Chief Financial Officer Joseph Corbett. Chilly. Customer Care Center. Find information on our most convenient and affordable shipping and mailing services. USPS still battling perfect storm of mail volume The record-shattering number of letters and packages the postal service has been trying to process is only one reason for a delay in mail delivery. 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. Total mail volume to fall to ~150B pieces in 2020 from 177B in 2009, and from 212B in 2006 • 15% drop vs. 2009 volume (2% YoY decline) • 30% drop vs. 2006 (pre-crisis) volume First-Class Mail to fall to ~50B pieces in 2020 from 84B pieces in 2009, and from 96B in 2006 • 37% drop vs. 2009 volume … Payments are to be made through 2056 based on OPM invoices. “While we continue to conserve capital and reduce expenses in areas where volumes are declining, our ability to continue to serve the nation will require substantial funding from the federal government or other sources.”. Workers' compensation increased by $2.2 billion due to a significant decline in interest rates as the COVID-19 pandemic weighed on the U.S. economy. All Rights Reserved. Controllable loss is defined as net loss adjusted for items outside of management’s control and non-recurring items. 3 Expense for the accrual for the annual payment due to OPM by September 30 of the respective fiscal year, to amortize the unfunded CSRS retirement obligation. Delivery problems aren’t limited to the postal … "As Congress and the Administration take steps to support businesses and industries around the country, it is imperative that they also take action to shore up the finances of the Postal Service, and enable us to continue to fulfill our indispensable role during the pandemic, and to play an effective role in the nation’s economic recovery. Numbers for some years were revised in later years; the most recent figures are shown. Postal Service media resources, including broadcast-quality video and audio and photo stills, visit the USPS Newsroom. These risks include, but are not limited to, the effects of COVID-19 on the Postal Service's business, financial condition and results of operations. Second Quarter Fiscal 2020 Operating Revenue and Volume by Service Category Compared to Prior Year The U.S. WASHINGTON – The U.S. Welcome to USPS.com. Certain forward-looking statements included in this release use such words as “may,” “will,” “could,” “expect,” “believe,” “plan,” “estimate,” “project” or other similar terminology. Want to save time and ship from home? POSTAL FACT: In 2019, First-Class Mail volume was 54.9 billion pieces. ", Brennan added, "We are grateful for the heroism and commitment of our 630,000 postal employees who continue to serve the American public during this pandemic, and we look forward to working with policymakers on ensuring the solvency of the Postal Service.”. For more information about the Postal Service, visit usps.com and facts.usps.com. For U.S. Standard Forward Mail & Change of Address Moving or Relocating. From 2009-2012, total mail volume declined more than 10 percent annually, although since 2013, the average rate of decline has slowed to less than 6 percent. 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 March 31, 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. This growth was due to one-time mailings associated with the 2020 U.S. Census, otherwise First-Class Mail revenue and volume would have each declined. However, since the Postal Service began experiencing the impacts of the pandemic in mid-March, the pandemic did not have a material impact on its second quarter results, although significant impacts are expected for the remainder of the year. 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. Trademarks. The Eagle Logo, the trade dress of USPS packaging, the Letter Carrier Uniform and the Postal Truck and the following marks are among the many trademarks owned by the United States Postal Service: Click-N-Ship ®, Deliver The Win ®, EDDM ®, ePostage ®, Every Door Direct Mail ®, Express Mail ®, First-Class™, First-Class Mail … AD Clouds give way to sun.
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