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USPS narrows losses in third quarter but warns liquidity crisis persists
['Alex Pack', 'Web Team']
Parcel and Postal Technology International
The increase was driven by growth in USPS Ground Advantage Shipping and Packages and strength in marketing mail, along with price increases in First Class mail, marketing mail and a time-limited transportation-related price increase for certain Shipping and Packages offerings implemented April 26. Marketing mail revenue rose 12.3% on a 4.3% volume increase, while First Class mail revenue rose 4.3% despite a 3.5% volume decline. Chief financial officer Luke Grossmann said, “The financial results for the quarter reflect a slight improvement compared to the same quarter last year, as we continue to grow revenue and manage the costs under our control, including reducing four million work hours during the quarter.