U.S. Postal Service Reports Fiscal Year 2017 Second Quarter Results

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WASHINGTON — Although the U.S. Postal Service posted modest controllable income for the second quarter of fiscal year 2017 (January 1, 2017 – March 31, 2017) of $12 million, it fell well short of the $576 million that it had for the same quarter last year. This reduction was driven by the April 2016 expiration of the exigent surcharge, which would have generated approximately $500 million in additional revenue during the quarter had it remained in place, and to a lesser extent, a $69 million increase in controllable operating expenses.

Operating revenue was $17.3 billion, a decrease of $474 million from the same period last year. Revenue from First-Class Mail and Marketing Mail decreased $606 million and $331 million respectively over the prior year quarter, due largely to the exigent surcharge expiration and lower volumes. These declines in operating revenue were somewhat offset by continued growth in the Shipping and Packages business, with a second quarter revenue increase of $486 million, or 11.5 percent, over the same period in the prior year.

Read more at usps.com

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