Key Observations On The U.S. Postal Service’s Finances
The U.S. Postal Service (USPS) files periodic, public financial statements with the Postal Regulatory Commission (PRC). Below are observations on notable financial trends and developments at USPS.
Operating Revenue and Growth in e-Commerce
USPS’s operating revenue reached a record $78.5 billion in Fiscal Year 2022. This was the second consecutive year of record revenues. In the ten years ended 2022, annual operating revenue increased by $13.4 billion, or almost 21 percent.
In 2022, Shipping and Packages revenue fell $700 million (2.2 percent), but was also $700 million above USPS’s business plan. However, nationwide growth in U.S. e-commerce retail sales was 9.3 percent – about double the 4.7 percent assumed in management’s plan. These data suggest USPS lost more market share than forecast in 2022.