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Submitted URL: https://usps-tracking.serveirc.com/
Effective URL: https://postandparcel.info/157729/news/post/usps-there-remain-many-economic-legislative-and-regulatory-obstacles-for-us-to-...
Submission: On November 18 via automatic, source certstream-suspicious — Scanned from FR

Form analysis 5 forms found in the DOM

GET https://postandparcel.info/

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GET https://postandparcel.info/

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GET https://postandparcel.info/

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Text Content

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0 Items
 * Home
 * News
   
   
   * FEATURED
     
     
     AMAZON INTRODUCES HAUL - AN AFFORDABLE SHOPPING FEATURE FOR US CUSTOMERS
     
     Nov 15, 2024 | E-Commerce, Innovation, Parcel
   
   
   * FEATURED
     
     
     USPS: THERE REMAIN MANY ECONOMIC, LEGISLATIVE AND REGULATORY OBSTACLES FOR
     US TO OVERCOME
     
     Nov 15, 2024 | E-Commerce, Parcel, Post
   * Recent
     
     
     * POST OFFICE UK: THIS TRANSFORMATION PLAN.. WILL SET UP THE POST OFFICE
       FOR YEARS TO COME
       
       by Emily | Nov 15, 2024 | 0
     
     
     * IPC:THE SMMS PROGRAMME IS A TRUE SUCCESS STORY OF POSTS COLLABORATING
       TOWARDS A GLOBAL COMMON GOAL
       
       by Emily | Nov 15, 2024 | 0
     
     
     * AUSTRALIA POST BRINGS BACK WEEKEND DELIVERIES FOR PEAK
       
       by Emily | Nov 14, 2024 | 0
     
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0 Items
 * Home
 * News
   
   
   * FEATURED
     
     
     AMAZON INTRODUCES HAUL - AN AFFORDABLE SHOPPING FEATURE FOR US CUSTOMERS
     
     Nov 15, 2024 | E-Commerce, Innovation, Parcel
   
   
   * FEATURED
     
     
     USPS: THERE REMAIN MANY ECONOMIC, LEGISLATIVE AND REGULATORY OBSTACLES FOR
     US TO OVERCOME
     
     Nov 15, 2024 | E-Commerce, Parcel, Post
   * Recent
     
     
     * POST OFFICE UK: THIS TRANSFORMATION PLAN.. WILL SET UP THE POST OFFICE
       FOR YEARS TO COME
       
       by Emily | Nov 15, 2024 | 0
     
     
     * IPC:THE SMMS PROGRAMME IS A TRUE SUCCESS STORY OF POSTS COLLABORATING
       TOWARDS A GLOBAL COMMON GOAL
       
       by Emily | Nov 15, 2024 | 0
     
     
     * AUSTRALIA POST BRINGS BACK WEEKEND DELIVERIES FOR PEAK
       
       by Emily | Nov 14, 2024 | 0
     
   * All News
 * Topics
   * E-Commerce
   * Freight
   * Infrastructure
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USPS: THERE REMAIN MANY ECONOMIC, LEGISLATIVE AND REGULATORY OBSTACLES FOR US TO
OVERCOME

Nov 15, 2024 | E-Commerce, Parcel, Post | 0



The U.S. Postal Service has announced its financial results for the 2024 fiscal
year ended September 30. Controllable loss, which excludes certain expenses that
are not controllable by management, was $1.8 billion for the year, compared to
over $2.2 billion for the prior year.

The net loss for the year under generally accepted accounting principles (GAAP)
totaled $9.5 billion, compared to a net loss of $6.5 billion for the prior year,
an increase of $3.0 billion primarily attributed to the year-over-year increase
in non-cash workers’ compensation expense. Over 80% of our current year net loss
is attributed to factors that are outside of management’s control, specifically,
the amortization of unfunded retiree pension liabilities and non-cash workers’
compensation adjustments.

September 30, 2024 saw the release of Delivering for America 2.0 – Fulfilling
the Promise, which revisits and reexamines our original 10-year transformation
and modernization plan issued in March 2021, describes the significant progress
made over the past three years, and summarizes the evolution of our major
strategies that are now driving the organization forward to financial stability
and sustained service excellence. The entire plan can be found
at: https://about.usps.com/what/strategic-plans/delivering-for-america/assets/dfa-2-0-fulfilling-the-promise-2024.pdf.

“Our pricing and product strategies are continuing to improve our revenue
picture and fuel market share gains in our package business, demonstrating the
increasing competitiveness of the Postal Service,” said Postmaster General Louis
DeJoy. “While we continue to reduce our costs, there remain many economic,
legislative and regulatory obstacles for us to overcome. We look forward to
continuing our focus on transforming and modernizing the Postal Service, driving
revenue, reducing the cost to deliver, improving operational performance, and
positioning the organization for long-term financial sustainability.”

Total operating revenue was $79.5 billion for the year, an increase of $1.4
billion, or 1.7 percent, compared to the prior year.

Revenue from Shipping and Packages, First-Class Mail and Marketing Mail all
increased for the year. Shipping and Packages revenue increased $625 million,
or 2.0 percent, compared to the prior year. First-Class Mail revenue
increased $830 million, or 3.4 percent, compared to the prior year. Marketing
Mail revenue increased $292 million, or 1.9 percent, compared to the prior year.

Total GAAP operating expenses were $89.5 billion for the year, an increase
of $4.1 billion, or 4.8 percent, compared to the prior year. The overall
increase in operating expenses was due to non-cash workers’ compensation
adjustments and inflationary impacts on compensation costs, retirement costs and
other operating costs, partially offset by lower transportation costs.

“The financial results for the year and the ongoing trend of declining mail
volume and increasing package volume reinforce our commitment to the full
implementation of the Delivering for America plan,” said Chief Financial Officer
Joseph Corbett. “Adherence to the tenets of the plan, for example, has allowed
us to reduce work hours for the third consecutive year, cumulatively reducing 45
million hours that will result in $2.3 billion in annual savings prospectively,
and to save $1.3 billion in transportation costs in fiscal year 2024. The plan
delivers the framework for us to better innovate to grow revenue, work more
efficiently, and achieve financial sustainability to fulfill our universal
service mission over an integrated network to deliver both mail and packages.”

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PreviousPost Office UK: This Transformation Plan.. will set up the Post Office
for years to come
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RELEVANT DIRECTORY LISTINGS


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USPS ENTERS INTO NEW AGREEMENTS WITH PACKAGE CONSOLIDATOR COMPANIES

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USPS ANNOUNCES SEASONAL ADJUSTMENT FOR PACKAGES

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