News & information
In the first quarter of FY2016, USPS reported an operating profit of $1.3 billion. (Sources: 2014, 2015, 2016.)
(Note: This story has been updated to include news media coverage, below.)
NALC President Fredric Rolando issued a statement following the U.S. Postal Service’s release on Feb. 9 of its financial report for the first quarter of Fiscal Year 2016, covering October through December of 2015:
The $1.3 billion quarterly operating profit announced today by the Postal Service is positive news that augurs well for the future. The continuing financial upswing shows the importance of maintaining and strengthening the unparalleled—and profitable—postal network, which offers Americans the world's most affordable delivery services.
This impressive performance at the start of Fiscal Year 2016 builds on back-to-back years of operating profits each exceeding $1 billion, without a dime of taxpayer money.
Package volume has rapidly grown, driven by a surge in e-commerce and bolstering USPS’ operating results. (Sources: 2014, 2015, 2016.)
These results aren’t a fluke. They stem from two structural factors: An improving economy has helped stabilize letter revenue, and Internet-driven online shopping has sent package volume sharply upward—up 16.2 percent over the first quarter of last year.
Today’s good news is consistent with—and reinforces—the emerging consensus among key lawmakers, the Postal Service, postal unions, businesses, mailers and industry groups to move forward with practical reform that all stakeholders can buy into. Such reform should include stabilizing rates as well as addressing the pre-funding mandate that is responsible for the red ink that's been reported in previous quarters.
News media coverage
News coverage of the Postal Service’s quarterly report contained a great deal of input from NALC; in fact, more from NALC than any other source.
Why USPS doesn’t celebrate rare net profit; and a big service-cut plan dies (The Washington Post)
NALC President Fredric Rolando is quoted by The Washington Post’s Joe Davidson in Davidson’s “Federal Diary” column about the financial report. In fact, while the column quoted Rolando, Postmaster General Megan Brennan, USPS Chief Financial Officer Joseph Corbett and American Postal Workers Union President Mark Dimondstein, it quoted Rolando more than those three combined.
“These results aren’t a fluke,” [Rolando] said. “They stem from two structural factors: An improving economy has helped stabilize letter revenue, and Internet-driven online shopping has sent package volume sharply upward — up 16.2 percent over the first quarter of last year.”
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“The continuing financial upswing shows the importance of maintaining and strengthening the unparalleled — and profitable — postal network, which offers Americans the world’s most affordable delivery services,” Rolando said. The USPS quarterly operating profit of $1.3 billion, he added, “builds on back-to-back years of operating profits each exceeding $1 billion, without a dime of taxpayer money.”
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The “good news” about postal finances, Rolando said, is “consistent with — and reinforces — the emerging consensus among key lawmakers, the Postal Service, postal unions, businesses, mailers and industry groups to move forward with practical reform that all stakeholders can buy into.”
Click here to read the column.
US Postal Service Miracle? $1.1B Turnaround Reported, But Officials Hold Back Celebration (International Business Times)
Rolando also is quoted in a Feb. 14 International Business Times story about the quarterly report. Rolando and Corbett are quoted most, followed by Brennan.
Yet not everyone was as pessimistic. Fredric Rolando, the president of the National Association of Letter Carriers, said it was an “impressive performance.”
“These results aren’t a fluke,” Rolando said. “They stem from two structural factors: An improving economy has helped stabilize letter revenue, and internet-driven online shopping has sent package volume sharply upward — up 16.2 percent over the first quarter of last year.”
Leap-for-Joy Year: Quarterly Profit For USPS First in While (The Chief-Leader)
In its Feb. 12 story about the quarterly report, The Chief-Leader quoted Rolando first—and most—about it, followed by Brennan.
The announcement “is positive news that augurs well for the future,” National Letter Carriers Association Presi¬dent Fredric Rolando said in a statement. “The continuing financial upswing shows the importance of maintaining and strengthening the unparalleled—and profitable—postal network, which offers Americans the world’s most affordable delivery services.”
He credited the improved economy and growth of online shopping for the good news.
“These results aren’t a fluke,” he said.
From its website: “The Chief-Leader is a New York City-based weekly newspaper focused on municipal government and civil servants, as well as issues affecting New York State and Federal employees.” It reportedly has more than 100,000 readers.
Click here to read the story (subscription required).
Postal Service Shows Profit During Year-End Holiday Season (Associated Press)
The story by the Associated Press—the wire service used by thousands of newspapers, TV and radio stations, and online news outlets around the country—quoted NALC President Fredric Rolando, Postmaster General Megan Brennan and USPS Chief Financial Officer Joseph Corbett, but Rolando was quoted at greater length than Brennan and Corbett combined.
“Today’s good news is consistent with, and reinforces, the emerging consensus among key lawmakers, the Postal Service, postal unions, businesses, mailers and industry groups to move forward with practical reform that all stakeholders can buy into,” said Fredric Rolando, president of the National Association of Letter Carriers. “Such reform should include stabilizing rates as well as addressing the pre-funding mandate that is responsible for the red ink that’s been reported in previous quarters.”
The story also reported:
The service is still seeking relief from the mandate to “pre-fund” retiree health benefits. Legislation in 2006 required the Postal Service to fund 75 years’ worth of retiree health benefits, something that neither the government nor private companies are required to do.
Click here to read the story carried by ABC News.
Click here to read the story carried by The New York Times.
Postal Service starts 2016 strong, demands action from Congress (Federal News Radio)
In the story by Federal News Radio, three people are quoted, all equally and at some length: Rolando, Brennan and Sen. Tom Carper (D-DE). Rolando’s quote appears early in the story:
“The $1.3 billion quarterly operating profit announced today by the Postal Service is positive news that augurs well for the future. The continuing financial upswing shows the importance of maintaining and strengthening the unparalleled—and profitable—postal network, which offers Americans the world’s most affordable delivery services,” National Association of Letter Carriers President Fredric Rolando said in an email to Federal News Radio. “This impressive performance at the start of Fiscal Year 2016 builds on back-to-back years of operating profits each exceeding $1 billion, without a dime of taxpayer money.”
The story also noted:
If this trend continues, this would be the fourth consecutive year in which the Postal Service would be operating in the black.
Postal Service posts profit after holiday season (The Hill)
In the story in The Hill, three people are quoted at the same length: Rolando, Brennan and Carper. (Corbett also is quoted, briefly.)
“These results aren’t a fluke,” said Fredric Rolando, president of the National Association of Letter Carriers. “They stem from two structural factors: An improving economy has helped stabilize letter revenue, and Internet-driven online shopping has sent package volume sharply upward.”
The story also reported:
A record number of holiday packages helped push the Postal Service toward a profitable first quarter for the new fiscal year.
The mail service reported $1.3 billion in controllable income—that’s income that covers the service’s operational expenses but not large prepayments into a retiree health benefit fund—and $307 million in net income for the stretch spanning from Oct. 1 through Dec. 31. Both of those numbers are up from the same period one year earlier.
U.S. Postal Service reports $1.3 billion profit in first quarter (Linn’s Stamp News)
Here’s the lead paragraph of the story by Linn’s Stamp News:
Helped by a surge of Christmas parcels, the United States Postal Service reported an operating profit of $1.3 billion in the first quarter of fiscal 2016, which ended Dec. 31, 2015.
Rolando was quoted, as were Brennan and Corbett.
Fredric Rolando, president of the National Association of Letter Carriers, said the good results “aren’t a fluke” and show the impact of an improving economy and “Internet-driven online shopping,” which boosted parcel growth.
U.S. Postal Service Swings to Profit in Holiday Quarter (Dow Jones Business News/NASDAQ)
The U.S. Postal Service swung to a profit for the holiday quarter, helped by strong demand for package delivery....
What the agency refers to as controllable income rose to $1.26 billion from $1.12 billion a year earlier. The agency defines its controllable results as excluding items beyond its control, for instance, retiree health benefits and certain changes in workers’ compensation expenses.