In Postmaster General Louis DeJoy’s 10-year business plan, he had originally projected that fiscal 2023 would mark the first year in nearly two decades that USPS would break even. But significant losses in marketing mail and other categories have offset those gains.

USPS has seen slight revenue growth in both First-Class mail and packages for the year, as higher rates have offset declining use.

For the year, volume is down by about 7% and revenue has dropped by about 1%. Volume fell by 11% in the month, leading to a revenue decrease of 6%. USPS’ income dropped with particular force in February, despite significant price increases that went into effect Jan. The mailing agency has suffered significant volume losses so far this fiscal year, leading to an overall dip in revenue. It had projected it would lose just $1.2 billion. All told, USPS’ losses in fiscal 2023 have exceeded the same period in fiscal 2022 by 10%. In February, the Postal Service managed to cut its costs by more than 7%. USPS has blamed inflationary pressures for throwing it off course, though its operating expenses have grown by less than 1% through the first five months of the fiscal year. Postal Service has already lost $2.1 billion in fiscal 2023, according to new figures released by the agency, exceeding its expected losses for this point by 75%.

Usps lost package