OPENING REMARKS
The United States Postal Service Board of Governors held an open meeting on May 9th, 2025. The meeting began with remarks from Chairwoman Amber McReynolds and acting Postmaster General (PMG) Doug Tulino, who thanked the retiring 75th PMG, Louis DeJoy, for his service. They highlighted the Postal Service’s 250 years of operation and the current economic challenges, including cost control, revenue growth, and infrastructure modernization.
A significant announcement was the appointment of David Steiner as the 76th PMG and CEO of the USPS. Pending background and ethics checks, Mr. Steiner is expected to assume his duties in July 2025, at which point Doug Tulino will return to his role as Deputy PMG and Chief Human Resources Officer. Mr. Steiner, a lawyer and corporate executive, has held leadership positions at FedEx, Waste Management Inc., and other companies.
FINANCIAL RESULTS
The USPS presented its financial results for FY25 Q2 (January-March) and the year-to-date (YTD) totals for FY25 (October-March). Operational losses for Q2 were $800 million, with net losses of $3.3 billion, $1.8 billion more than the same period last year. The six-month YTD loss is $3.1 billion. USPS liquidity, while improved from the previous year, remains low, particularly given the $15 billion borrowing limit. The USPS outlined several administrative and legislative reforms needed to address liquidity concerns, including pension benefit funding rules, debt limit increases, and workers’ compensation administration.
VOLUME SUMMARY
Mail volumes have significantly declined, with First-Class and Marketing Mail dropping 49% between 2007 and 2024. The number of delivery points has increased, resulting in a 55% decrease in the average number of pieces delivered per delivery point per day. In FY25 Q2, First Class revenue increased by 1% despite a 5.8% volume decline, while Marketing Mail revenue decreased by 1.4% with a 5.7% volume loss. Parcel growth, which the USPS has relied on, saw a revenue increase of only 0.7% due to a 6.9% volume decline. USPS Ground Advantage saw a 24.8% increase, offsetting losses in the Priority Mail category.
SERVICE DATA
Service performance data was also presented. None of the First-Class mail categories met their service score goals, though service has improved from the prior quarter. First-Class Composite service was 82.55% in Q2 and 83.03% YTD. Marketing Mail also did not meet its service goal of 94.5%, achieving 91.89% in Q2 and 92.50% YTD. More detailed service performance data is available on the USPS website.
