The US Postal Service (USPS) announced on Tuesday that it had made a profit in the first quarter of the financial year, partly due to an increase in deliveries around the holiday.
The USPS said in a statement that more than 1.1 billion packages were delivered during the holiday period, helping to increase $ 318 million in net revenue for the quarter ended December 31. The agency lost $ 748 million in the same period a year ago. Total revenue rose 11.1 percent to $ 21.5 billion.
“Our strong growth in package volume during the holiday quarter shows how dramatically our business and revenue mix is changing,” the postmaster general said. Louis DeJoy
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The USPS has found itself in a very public fiscal hole, a situation that came to the fore during the 2020 presidential election.
DeJoy, a GOP fundraiser with ties to former President Trump
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DeJoy continued to call for broad changes in the operation of the USPS and said it was still facing an uphill climb to remain consistently profitable.
‘While our positive financial results are certainly welcome this term, we are continuing with systemic imbalances that make our current operating model unsustainable, and the economic consequences of the COVID-19 pandemic will continue to challenge the organization. “It is essential that the Postal Service adopts comprehensive reforms so that we can meet the changing needs of our business and residential customers, and we can ensure that all Americans can deliver reliable, universal mail and parcel delivery,” he said.