Washington – A strong holiday shipping season and a couple of favorable economic situations have temporarily turned around the financial fortunes of the Postal Service.
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The post office reported a $307 million profit between October and December of 2015, as compared to a $754 million loss the previous year. That was in part because a 16 percent increase in package volume during the first quarter of the fiscal year.
But postal officials are warning that without favorable interest rate changes and a postal surcharge that will expire in April, they would have had a net loss of approximately $700 million in the first quarter.
The first quarter operating revenue was $19.3 billion, an increase of $613 million or 3.3 percent over the same period in the previous year.
Wow, that’s the first positive financial report I’ve read about the US Postal Service in about 20 years! Wouldn’t it be nice if they could actually turn a corner on their history and become a long-term stable, sustainable service that effectively competes with the other industry leaders.