This decrease is reflective of the continuing migration from mail to electronic communication and transaction alternatives, which has been exacerbated by the pandemic. These increases in revenue were partially offset by a decrease in First-Class Mail revenue of $500 million, or 2.1 percent, compared to the prior year, with a volume decline of 1.9 billion pieces, or 3.7 percent. Marketing Mail also benefited during 2021 from the higher volume of political and election mail associated with the calendar year 2020 general election season. While it has been rebounding as the economy continues to recover, Marketing Mail volume remains lower than pre-pandemic levels. The measured growth in Marketing Mail is a result of the low volume in the prior year due to the pandemic. Marketing Mail experienced steep volume declines at the onset of the pandemic last year. Marketing Mail revenue increased $681 million, or 4.9 percent, compared to the prior year, on volume growth of approximately 2.2 billion pieces, or 3.4 percent. This surge has begun to abate as the economy continues to recover and market competition intensifies however, Shipping and Packages volume remain higher than pre-pandemic levels. Shipping and Packages revenue increased $3.5 billion, or 12.2 percent, on volume growth of 253 million pieces, or 3.5 percent, largely driven by the surge in e-commerce resulting from the pandemic and record holiday volume. In addition to the aggressive steps that management is undertaking, which are already producing positive results, postal reform legislation is also an integral part of the Postal Service's recovery plan that is critical to ensuring financial self-sufficiency. “Despite the magnitude of our financial challenges, we are making encouraging progress in correcting the long-term imbalance in postal revenues and expenses, and we expect to see continued improvement as we fully implement the Delivering for America plan, which includes making meaningful progress towards meeting or exceeding 95 percent on-time service performance for all mail and shipping products, which we will achieve once all the elements of the plan are implemented.” “We are aggressively implementing our Delivering for America transformation plan and making solid progress in service and operational performance, and in enterprise-wide automation investments that have dramatically expanded our capacity to process and deliver holiday package volume for the nation,” said Postmaster General and CEO Louis DeJoy. The Postal Service has made network infrastructure investments, such as the installation of new package processing equipment, and has increased its leased space and workforce, to meet customers' evolving needs ahead of the 2021 holiday season and beyond. Service performance improvements are largely the result of significant organizational focus on implementing core elements of the Delivering for America plan. Service performance continued to improve during the year, with the Postal Service reporting its strongest service performance for all mail categories since the previous year. The Postal Service's operating revenue was $77.0 billion for 2021, an increase of $3.9 billion, or 5.3 percent, compared to the prior year. generally accepted accounting principles basis, the Postal Service had a net loss of $4.9 billion for 2021, compared to a net loss of $9.2 billion for 2020. This excludes non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control. Postal Service today announced its financial results for the 2021 fiscal year ended September 30, reporting an adjusted loss of $6.9 billion for 2021, compared to an adjusted loss of $7.6 billion for 2020. Delivering for America plan provides clear strategies to structure the organization for success and significant progress has already been made.Ongoing investments to meet customers' evolving needs ahead of the 2021 holiday season.Adjusted loss of $6.9 billion for 2021, compared to an adjusted loss of $7.6 billion for 2020.Operating revenue increase of $3.9 billion due to higher package demand driven by e-commerce.Postal Service Reports Fiscal Year 2021 Results Aviation mail security & hazardous materials.
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