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U.S. Postal Service Q1 2019 total revenue increased $553 million

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Staff Writer |
U.S. Postal Service
U.S. Postal Service   First-Class Mail revenue declined $81 million

The U.S. Postal Service reported total revenue of $19.7 billion for the first quarter of fiscal 2019 (October 1, 2018 - December 31, 2018), an increase of $553 million, or 2.9 percent, compared to the same quarter last year.

First-Class Mail revenue declined $81 million, or 1.2 percent, on a volume decline of 428 million pieces, or 2.8 percent, compared to the same quarter last year. Meanwhile, Marketing Mail revenue increased $218 million, or 4.9 percent, on volume growth of 1.0 billion pieces, or 4.8 percent, compared to the same quarter last year.

Shipping and Packages revenue increased $516 million, or 8.7 percent, on volume growth of 93 million pieces, or 5.4 percent, compared to the same quarter last year.

Total operating expenses were $21.2 billion for the quarter, an increase of $1.6 billion, or 7.9 percent, compared to the same quarter last year.

Excluding the impact of the $621 million non-cash workers' compensation expense increase resulting from changes in interest rates and actuarial assumptions, operating expenses would have been $20.6 billion for the quarter, an increase of $939 million, or 4.8 percent, compared to the same quarter last year.

The remaining operating expense increase was largely driven by increases in compensation and benefits of $657 million, due to additional hours and contractual wage adjustments, and transportation costs of $207 million, due to higher fuel costs and highway contract rate inflation.

The net loss for the quarter totaled $1.5 billion, an increase in net loss of nearly $1.0 billion compared to the same quarter last year.


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