USPS exceeded operating revenue expectations in last two fiscal years
The Postal Service exceeded its expected revenue in both fiscal 2012 and 2013 by more than a billion dollars each year, a Feb. 27 USPS inspector general report says.
USPS breaks down operating revenue into commercial and retail, which which generally make up about 70 percent and 30 percent, of revenue, respectively, the report (.pdf) notes.
For fiscal 2013, the Postal Service generated almost $66 billion in operating revenue, exceeding projections by $1.2 billion. That came mostly from a billion dollar increase in commercial revenue, which comes as sales to business mailers.
During the previous fiscal year, the agency generated about $65 billion in operating revenue, exceeding projections by about $1.4 billion. That was mostly due to higher than expected retail sales, which includes stamps, post office box fees and postage meters.
All 67 postal districts exceeded their revenue projections and all but ten exceed their overall operating revenue projections in fiscal 2012.
Still, those flusher-than-anticipated years didn't prevent the Postal Service from reporting overall net losses in the billions for both fiscal years. In fiscal 2013, the agency posted a $5 billion loss and the previous year losses totaled almost $16 billion.
UPDATE 3/5/2014 4:30 p.m.: While the USPS IG reported that in fiscal 2013 the agency generated almost $66 billion in operating revenue and exceeded projections by $1.2 billion, USPS Spokesperson Patricia Licata says the numbers are $67 billion in operating revenue generated and that the Postal Service exceeded projections by $2.4 billion. (Return to top)
- download the USPS IG report, MS-WP-14-001 (.pdf)