USPS Reports Q1 Fiscal Year 2023 Results; Includes Marketing Mail Volume Decline (piworld.com)

The U.S. Postal Service announced its financial results for the first quarter of fiscal year 2023 (Oct. 1, 2022 – Dec. 31, 2022). The Postal Service’s operating revenue was $21.5 billion for the quarter, an increase of $206 million, or 1.0 percent, on a volume decline of 1.7 billion pieces, or 4.8 percent, compared to the same quarter last year.

Shipping and Packages revenue increased $203 million, or 2.4 percent, on a volume decline of 70 million pieces, or 3.5 percent, compared to the same quarter last year. The volume decline reflects the continued abatement of the pandemic-related surge in e-commerce. However, Shipping and Packages volume remains higher than pre-pandemic levels.

First-Class Mail revenue increased $95 million, or 1.5 percent, on a volume decline of 587 million pieces, or 4.5 percent, compared to the same quarter last year. The volume decline reflects on-going migration from mail to electronic communication and transaction alternatives. First-Class Mail volume remains lower than pre-pandemic levels.

Marketing Mail revenue decreased $106 million, or 2.4 percent, on a volume decline of 879 million pieces, or 4.7 percent, compared to the same quarter last year. Revenue declined at a lesser rate than volume due to price increases. Marketing Mail has been challenged by commercial mailers’ increasing use of digital and mobile advertising, which was accelerated by the pandemic. Nevertheless, Marketing Mail has generally proven to be a resilient marketing channel, and its value to U.S. businesses remains strong due to customer returns on investment and better data and technology integration.
more at: https://www.piworld.com/article/usps-reports-first-quarter-fiscal-year-2023-results/#ne=d7f0e6e16b0d037f71fc050491da5623&utm_source=today-on-piworld&utm_medium=newsletter&utm_campaign=2023-02-13

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