The Postal Service released its third quarter financial results this morning and the numbers tell a clear story: the USPS financial turnaround continues.
So far this year, USPS has seen growth in overall revenue, operating profit, letter mail revenue and shipping and package revenue.
Postal finances have seen steady improvement since 2012. Operating profit for the first three quarters of the year increased by $1.4 billion vs. 2013 and by $2.2 billion vs. 2012.
Booming e-commerce activity has been a key driver of the Postal Service’s fiscal turnaround. USPS shipping and package volume increased 7.7 percent year-over-year in the third quarter.
These figures show that the digital age can be a critical opportunity – not a threat – for the Postal Service.
Even the declines in letter mail volume due to Internet diversion are leveling, and large shipping and package revenue gains are entirely offsetting more gradual declines in letter mail volume.
As these positive trends continue, calls to slash and shrink our nation’s postal system look more and more misguided. It’s time to strengthen the Postal Service so it can continue to grow, instead of cutting critical services that Americans rely on every day.
Lawmakers in Washington should work together and with all postal stakeholders on comprehensive postal reform that frees USPS from unprecedented financial strangleholds like the mandate to pre-fund health retiree benefits 75 years in advance and allows it to innovate for the future.
