Postal Service’s $3.2 Billion Q2 Loss Underscores Need for Legislative Changes

Other details of the second quarter results compared to the same period last year include:

• Total mail volume of 39.5 billion pieces, a decrease of 1.7 billion pieces, or 4.1 percent;
• Operating revenue of $16.2 billion, a decrease of $7 million or less than 1 percent;
• Operating expenses of $19.4 billion, an increase of $938 million, or 5.1 percent, driven by expenses related to the legally mandated prefunding of retiree health benefits payments scheduled to be paid in the final quarter of this year;
• Transportation expenses of $1.7 billion, an increase of $126 million, or 8.1 percent, driven by rising fuel costs. Other expenses of $2.3 billion, a decrease of $133 million, or 5.6 percent.

These results bring the year to date net loss to $6.5 billion, compared to $2.6 billion for the same period last year.