Yesterday the Postal Service released its financial report for April 2020. The report gives us a first look at how the pandemic has been affecting mail volumes.
As many observers expected, volumes and revenues for First Class mail and Periodicals were down compared to last April, and Marketing mail was way, way down. Shipping and Package Services, on the other hand, were way up, thanks to all the online ordering of provisions. Total revenue in April was down 3.8 percent compared to April 2019.
For First Class mail, volumes were down 8.9 percent, and revenues were down 8.1 percent compared to last April. For Periodicals, volumes were down 17.7 percent, and revenues were down 18.4 percent. For Marketing mail, volumes were down a whopping 45 percent, and revenues were down 45.7 percent.
For Shipping and Packing Services, volumes were up 34.9 percent, and revenues were up 38 percent.
For year to date (October 2019-April 2020), revenues were down about $240 million, or 0.56 percent. Expenses were up about $2.25 billion, or 4.8 percent, due to adjustments to the CSRS pension fund and Workers’ Compensation. Year-to-date the Postal Service has posted a net loss of $6.464 billion.
The April 2020 report is here.