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USPS financial results

Total revenue rose 1.6 percent in fiscal 2015

Package volumes increased 14.1 percent in fiscal 2015, USPS reported Nov. 13.

The Postal Service’s total revenue for fiscal 2015 (Oct. 1, 2014-Sept. 30, 2015) was $68.9 billion, up 1.6 percent from one year earlier.

The net loss was $5.1 billion, due to certain statutorily mandated payments over which the Postal Service has no control.

Controllable income was $1.2 billion. Controllable income is defined as net loss excluding expenses related to the mandated prefunding of retirement health benefits and other factors largely outside of management’s control.

“We achieved controllable income in excess of $1 billion for the second consecutive fiscal year giving us some limited flexibility to make critical investments in the future of the organization,” said PMG Megan Brennan.

“To maintain this success, we will need to continue our efforts to grow the business and drive operational efficiencies. However, we will also need the enactment of legislation that makes our retiree health benefit system affordable and that provides increased pricing and product flexibility.”

The Postal Service’s total mail volume was 154.2 billion pieces, down from 155.5 billion pieces in 2014.

Package volumes increased 14.1 percent, while First-Class Mail and Standard Mail volumes decreased by 2.2 percent and 0.3 percent, respectively.

USPS reported the results Nov. 13. Complete results are in the Form 10-K.

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