USPS reports a $9.5 billion loss in 2024, despite revenue growth from higher postage rates.

The U.S. Postal Service (USPS) reported a $9.5 billion loss for fiscal year 2024, up from $6.5 billion in 2023, despite a slight revenue increase following postage rate hikes. The loss was partly due to non-cash expenses for worker compensation. Revenue from shipping and packages grew, but mail volume declined by 3.2%. USPS aims to improve financial sustainability through its Delivering for America plan, focusing on cost reduction and modernization.

November 14, 2024
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