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USPS falling behind on financial goals for FY 2023, doubles projected losses

March 2, 2023
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The Postal Service, as it moves ahead with plans to make long-deferred upgrades to its vehicle fleet and delivery network this year, is falling behind on its financial goals for the year.

USPS, in a recent filing to the Postal Regulatory Commission, reported more than a $1 billion net loss for January 2023, and a more than $2 billion total net loss since the start of fiscal 2023.

Both losses are more than twice what USPS had projected. USPS in its filing expected a $364 million net loss for January, and a $945 million net loss for the fiscal year to date.

The Postal Service’s latest financial report shows a difficult start to the calendar year, especially considering the agency just wrapped up its busy year-end holiday peak season.

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