Thursday, February 6, 2025
USPS reports first-quarter financial results
Operating revenue was $22.5 billion, up 4.1 percent
The Postal Service has announced its financial results for the first quarter of fiscal year 2025 (Oct. 1-Dec. 31, 2024). Here are some highlights:
• Revenue. Total operating revenue was $22.5 billion, an increase of 4.1 percent compared with the same quarter during the previous fiscal year. First-Class Mail revenue increased 4.2 percent, while Marketing Mail revenue increased 10.9 percent. Shipping and packages revenue increased 3 percent.
• Volume. Total volume was 31 billion pieces, up 1.8 percent compared with the same quarter one year ago. First-Class Mail volume declined 3.9 percent, while Marketing Mail volume increased 7 percent. The Marketing Mail increases were driven by the effects of higher revenue and volume associated with the 2024 general election and strategic price increases. Shipping and packages volume declined 0.9 percent.
• Expenses. Under generally accepted accounting principles, total operating expenses were $22.5 billion, a decrease of 5.7 percent compared with the same quarter last year. The overall decrease in operating expenses was because of lower transportation costs and favorable noncash workers’ compensation adjustments, partially offset by inflationary effects on compensation costs and retirement costs.
• Net income. Net income was $144 million — in substantial part because of the success of strategic initiatives under the Delivering for America plan — compared with a net loss of $2.1 billion for the same quarter last year. This increase in net income is attributed to the Postal Service’s operating revenue increase of $885 million, transportation expense reductions of $326 million, and favorable noncash workers’ compensation adjustments of nearly $1.8 billion, partially offset by increased compensation and benefits expense of $618 million.
“We are encouraged by our strong revenue and cost control trajectory, as we continue to implement the Delivering for America transformation and modernization plan, which contributed to our net income during the quarter,” said Postmaster General Louis DeJoy.
“By steadily improving our product portfolio, we are increasing our competitive position in the shipping marketplace. We are also expanding the capability and efficiency of our operations through our network modernization and by rebalancing our workforce through the recent retirement incentives offered to certain eligible employees. This combination of factors demonstrates that the Postal Service is making strides toward financial sustainability and that we are taking concrete actions to make further improvements.”
The Postal Service’s Feb. 6 news release has more information.
Off the Clock
He speaks up for Toastmasters
The public speaking club has helped this IT specialist improve his skills
My name is Tarsem Dayal and I am an information technology client support specialist. I’ve worked at USPS headquarters in Washington, DC, for 27 years.
My background is in finance, but computers were always an interest of mine. While I worked at a bank, I was always helping people with their computer issues, but I knew my communication skills were lacking.
The biggest challenge for me was talking with people. I was very shy, so all I would say was, “Hello.” I had no clue how to ask the next question in a conversation.
During college, I took a communication class, but I didn’t really learn much about communication. Our final project was a 5-minute speech. I was so scared. As soon as I finished, I ran back to my desk — and knocked down a few chairs on the way. I was shaking and couldn’t even answer any of my classmates’ questions.
Years later, at the Postal Service, I saw a banner for the Toastmasters’ Speak Up 727 Club. I asked a coworker about it and she invited me to one of the Tuesday meetings.
At my first meeting, I realized it was exactly what I needed, so I joined.
Toastmasters is an educational organization where you learn public speaking and leadership skills. Members deliver speeches, respond to impromptu questions, and give and receive constructive feedback.
The first speech I gave was an “ice breaker,” and I still remember how I felt. I was sweating and shaking — but I was determined to get better at communicating, so I stuck with it.
There are many aspects to communication, such as listening, body language, hand gestures, tone of voice and facial expressions. Listening was the biggest thing for me to learn. I used to multitask all the time instead of truly listening. Now I focus during my conversations.
Toastmasters has also taught me leadership skills as I’ve served in various roles for the club.
Since joining the club, I have seen a 180-degree change in myself. I have even attained the highest Toastmasters level — the Distinguished Toastmasters Award.
It’s a long way from what I once was to what I am now.
“Off the Clock,” a column on Postal Service employees and their after-hours pursuits, appears regularly in Link.
Watch a video tribute to Allen Toussaint
The New Orleans music icon is featured on this year’s Black Heritage stamp
A new Postal Service video spotlights New Orleans composer and musician Allen Toussaint, the 48th honoree in the organization’s Black Heritage stamp series.
The four-minute video features comments from the genre-spanning virtuoso’s son and daughter, Reginald Toussaint and Alison Toussaint-LeBeaux, and two members of the Allen Toussaint Band, Herman LeBeaux Jr. and Ken “Afro” Williams.
Gary Barksdale, chief of the Postal Inspection Service, provides the introduction.
“His songs, his music, lyrics, have spread across the world. And now a stamp with his picture on it can follow suit,” Toussaint-LeBeaux says in the video. “That’s just lovely to me.”
Employees can’t upload W-2 information to TurboTax, H&R Block
Automatic upload of W-2 form information to TurboTax and H&R Block for tax year 2024 is unavailable to Postal Service employees.
Employees can use PostalEASE to view, print or request duplicate W-2 forms.
To access PostalEASE, employees must log into LiteBlue.
WestPac Area, MN-ND District lead in scanning
A snapshot of Postal Service scanning data shows the national rating was 96.92 percent during the week ending Jan. 31, down 0.4 percent from one week earlier.
The data was collected Feb. 5.
WestPac led the four areas with a rating of 97.52 percent, while Central ranked last with a 96.27 percent rating.
Among the 50 districts, Minnesota-North Dakota, part of Central Area, ranked first with a 98.15 percent rating, while Louisiana, part of Southern Area, ranked last with a 91.96 percent rating.
Scanning data allows customers to track their mail and packages, which helps USPS deliver excellent service, boost loyalty and drive revenue.
To see the latest data, go to the Informed Visibility website and select “Customer Experience,” followed by “DES 2 Scan Performance.” Postal Service employees must request Informed Visibility access through eAccess.
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USPS reports first-quarter financial results
Operating revenue was $22.5 billion, up 4.1 percent
-
Off the Clock
He speaks up for Toastmasters
The public speaking club has helped this IT specialist improve his skills
-
Watch a video tribute to Allen Toussaint
The New Orleans music icon is featured on this year’s Black Heritage stamp
-
Brief
Employees can’t upload W-2 information to TurboTax, H&R Block
-
Brief
WestPac Area, MN-ND District lead in scanning