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Postal Service Sees More Red Ink, Despite Increased Revenue

Nov. 14, 2019, 8:24 PM

The U.S. Postal Service continues to lose money because of factors largely beyond its control, Postmaster General Megan Brennan told reporters Nov. 14.

The service’s net loss for fiscal year 2019 was $8.8 billion, $4.9 billion more than the USPS lost in FY 2018. Increased operating expenses—$79.9 billion in FY 2019—more than offset the $71.1 billion in operating revenue the service earned during the fiscal year, Brennan and USPS Chief Financial Officer Joe Corbett said in discussing the FY 2019 results.

“We continue to adjust to declining mail volume and remain focused on leveraging our unique and unrivaled network...

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