USPS fiscal year 2019 earnings see further declines.
The bottom line for the United States Postal Service (USPS) remained in a precarious position for fiscal year 2019, according to data it released last month. Operating revenue, at $71.1 billion, rose $514 million annually, and was paced by price increases and ongoing strength in its Shipping and Packages business. However, it saw a loss of $3.4 billion, or $1.5 billion more than fiscal year 2018, and its net loss for the year at $8.8 billion was $4.9 billion steeper on an annual basis. In its Form 10-K statement, USPS said its Shipping and Packages business has continued to show solid revenue growth as a result of its successful efforts to compete in shipping services, including "last-mile e-commerce fulfillment markets and Sunday delivery, as well as end-to-end markets, driven by consumers' continued use of online shopping, which provided a surge in package volume with a record number of packages delivered during both the calendar year 2018 and 2017 holiday seasons."
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|Title Annotation:||UPDATE: AN EXECUTIVE SUMMARY OF INDUSTRY NEWS|
|Publication:||Logistics Management (Highlands Ranch, Co.)|
|Article Type:||Financial report|
|Date:||Dec 1, 2019|
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