The Postal Service’s financial performance during fiscal 2017’s first quarter (Oct. 1-Dec. 31, 2016) included positive trends, but the results also highlight the need for legislative and regulatory reforms, Chief Financial Officer Joe Corbett says.
The first quarter is traditionally the organization’s strongest because it includes the holiday mailing season, Corbett explains in his latest “Dollars and Change” video.
For example, during fiscal 2016’s first quarter, shipping and package revenue was $5.5 billion, up more than 15 percent from the same period one year earlier.
Even with “continued aggressive management actions and innovation,” USPS still needs legislative and regulatory reform, Corbett says.
The organization is encouraged by a reform bill recently introduced in the U.S. House of Representatives. If enacted, the legislation “would greatly help us return to sound financial footing,” he says.
Other topics discussed during the 5-minute video include controllable income, net income, First-Class Mail revenue and USPS Marketing Mail revenue.