May 9, 2025
Alliance Members,
The USPS Governors selected David Steiner as the 76th Postmaster General of the United States. He will start in July if he passes the ethics and security clearances underway. Chair McReynolds waited until the very end of the Board of Governors meeting to announce this news, which she said is the most important and impactful decision the Governors make.
USPS announced its latest loss for Q2 of FY25 (January-March). The agency lost $3.3 billion in Q2 versus $1.5 billion in the same quarter last year. The 6-month year-to-date loss is now $3.1 billion versus $3.5 billion in the same 6 months last year. Workers’ compensation made Q2 worse by $1.1 billion, so the more meaningful loss was $2.2 billion. USPS also likes to subtract retirement liability amortization, bringing it to a “controllable” Q2 loss of $0.8 billion. As we have discussed, the loss without workers’ comp of $2.2 billion is meaningful, while the USPS “controllable” loss is not.
The year-to-date loss of $3.1 billion includes negative $0.3 billion in workers’ compensation, meaning a more accurate loss of $2.8 billion. USPS again published a “controllable” loss of only $0.1 billion as it took out $2.9 billion in retirement costs that are real costs.
- First-Class Mail revenue increased $69 million, or 1.0%, on a volume decline of 680 million pieces, or 5.8%, compared to the same quarter last year, with excessive price increases offsetting some of the declining volume impact.
- Shipping and Packages revenue increased $52 million, or 0.7%, on a volume decline of 118 million pieces, or 6.9%, compared to the same quarter last year.
- Marketing Mail revenue decreased $50 million, or 1.4%, on a volume decline of 787 million pieces, or 5.7%, compared to the same quarter last year.
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