USPS 2015 Q2 Financial Results

Aluminum strong

In fiscal 2015’s second quarter (Jan. 1-March 31), the Postal Service’s operating revenue increased $223 million, or 1.3 percent, when compared to the same period one year earlier.

The net loss was $1.5 billion compared to $1.9 billion a year ago.

The operating revenue increase was driven by 14.4 percent growth in shipping and package volume. First-Class Mail volume declined 2.1 percent, while Standard Mail volume dropped 1.1 percent.

Controllable income was $313 million, an increase of $52 million over the same period last year. This increase is primarily attributed to cost-cutting initiatives and rising revenue from strong shipping and package volume.

Controllable income is defined as net income excluding retiree health benefits prefunding expenses and expenses for interest rate and other non-cash workers’ compensation expenses, which are factors outside of management’s control.

“We’re pleased with the increase in our controllable net income compared to the same period last year, which demonstrates that our cost containment and revenue strategies are delivering results,” said PMG Megan Brennan.

“We also took significant steps during the quarter to improve our long-term operating model, which will help drive greater long-term efficiencies throughout our network.”

Complete financial results are in the Form 10-Q.

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