The Postal Service continues to face “strong headwinds,” Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video.
Corbett discusses the financial results from fiscal 2017’s third quarter (April 1-June 30, 2017), which showed year-to-year declines in First-Class Mail and Marketing Mail revenues.
He also notes that while USPS is on track to record almost $19 billion in shipping and packages revenue this year, it won’t be enough to offset profit declines in the mail categories.
However, the Postal Service’s ongoing efforts to link physical mail and digital technology hold promise, Corbett says.
“We believe strongly in the power of mail, especially when mail is integrated with digital channels,” he says.
Other topics addressed during the video include the Postal Service’s efforts to respond to declining mail volumes, as well as the need for continued aggressive management actions and legislative and regulatory reforms to restore USPS to financial stability.
“A balanced approach is necessary,” Corbett says.