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The Postal Service ended the first quarter of fiscal 2025 with a net profit — a rare moment in the black that Postmaster General Louis DeJoy says is evidence the agency is on the “right path” to overcome long-term financial challenges.
USPS reported $144 million in net income for the first quarter of fiscal 2025, a dramatic reversal from the $2.1 billion net loss for the same quarter last year. The agency’s first quarter is usually its best all year.
USPS, however, still anticipates ending FY 2025 with a $6.9 billion net loss.
The last time USPS saw a net profit was in fiscal 2022, when it ended the year with a $56 billion net profit, ending a nearly 15-year streak of annual net losses.
USPS ‘soon will be great,’ DeJoy says, after posting rare net profit for quarter
DeJoy says USPS saw $8 billion in total revenue in December — its highest revenue month ever.
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A profit most likely due to the multiple pay cuts Nojoy his stolen from us though the RRACS scheme! Shameful!
So in the event of years of overpayment of routes has nothing to do with it? It’s not pay cuts, it’s getting it right. All we need to do is be honest with our work and not steal from the company we work for.
Gee, I certainly hope so. I make frequent purchases domestically and internationally, where the end service is USPS. Since Dejoy took over, I’ve watched the service go from reasonably priced and super efficient, to overpriced garbage. Higher rates, with ever increasing misdelivered and damaged packages, inaccuracy and lack of tracking updates, and several days of extra shipping time. Sad, considering they used to be one of the most reliable services I used on the regular.
The only thing saving the post office is UPS being a lot more expensive than they used to be.
Stamped Undeliverable: Chicago CBP seizes over 161K counterfeit U.S. Forever stamps | U.S. Customs and Border Protection
So much for making a profit.