The Postal Service ended fiscal 2015’s first quarter (Oct. 1-Dec. 31, 2014) with a 4.3 percent increase in operating revenue compared to the same period one year earlier. The net loss was $754 million.
The operating revenue increase was partially driven by the record number of packages delivered during the holidays. Shipping and package volume rose 12.8 percent compared to one year earlier.
The net loss included a $1.4 billion expense accrued for the mandated prepayment to the Postal Service Retiree Health Benefits Fund.
Other year-to-year highlights:
- Standard Mail volume rose 3.5 percent, driven by an increase in political mail volume.
- First-Class Mail volume decline slowed to a 1.1 percent decrease.
- Standard Mail revenue and First-Class Mail revenue were up 7.6 percent and 3.7 percent, respectively. These increases were driven partially by the January 2014 price increase.
“Our employees delivered double-digit growth in packages this holiday season, which shows our growing ability to compete for and win new package delivery customers,” said PMG Megan Brennan.
“To keep the momentum going — and to ensure we are the shipper of choice for our residential and business customers — we will continue to expand customized delivery solutions and package capacity while delivering high levels of service.”
Complete financial results are in the Form 10-Q.