PRC Releases Report Analyzing Postal Service’s FY 2023 Finances

Washington, DC – The Postal Regulatory Commission released today its Financial Analysis report for Fiscal Year (FY) 2023. The in-depth analysis of the Postal Service’s financial performance concluded that the organization’s overall financial condition continues to worsen. In FY 2023, the Postal Service recorded a net operating loss of $2.3 billion — an increase of $1.8 billion over the previous year. When non-operating expenses are included, the overall net loss increases to $6.5 billion.

The primary highlights from the report were:

• The Postal Service had a net loss of $6.5 billion.
• Total Factor Productivity, a measure of Postal Service efficiency, saw the largest decrease (4 percent) since it was first calculated in 1965.
• Total mail volume decreased by 8.7 percent, including a 2.0 percent decrease in the volume of Competitive products.
• Revenue from Competitive products increased by $0.2 billion.
• Despite rate increases, Market Dominant revenue decreased by $0.4 billion.
• Total operating expenses were $2.1 billion higher than the previous year.
• The Postal Service recorded total assets of $45.3 billion and total liabilities of $68.4 billion at the end of FY 2023.

A complete copy of the Commission’s in-depth financial analysis may be found here or at www.prc.gov.

The Postal Regulatory Commission is an independent federal agency that provides regulatory oversight over the Postal Service to ensure the transparency and accountability of the Postal Service and foster a vital and efficient universal mail system. The Commission is comprised of five Presidentially-appointed and Senate-confirmed Commissioners, each serving terms of six years. The President designates the Chairman. In addition to Chairman Michael Kubayanda, the other commissioners are Vice Chairman Tom Day and Commissioners, Ann Fisher, Ashley Poling, and Robert Taub. Follow the PRC on Twitter: @PostalRegulator and LinkedIn.