“While we have noteworthy accomplishments, we have far to go on our transformation journey. However, our performance during the recent holiday quarter demonstrates that our modernization strategies are putting the Postal Service on an upward trajectory,” said Postmaster General Louis DeJoy. “We recorded revenue growth in the competitive shipping market, controlled costs more effectively, and expanded our controllable operating margin. We expect to continue this progress as we further implement the Delivering for America plan and transform our organization to better serve the American public.”
“While our first quarter saw package revenue growth, we continue to see inflation impacting our business,” said Chief Financial Officer Joseph Corbett. “We continue to implement components of the Delivering for America plan working towards financial stability. While full success of the plan will still require Administrative action on the apportionment of certain retiree pension benefit costs, we have been successful in managing the costs within our control, such as reducing work hours by 8 million hours and taking calculated steps to optimize our networks and decrease transportation costs.”
