Washington, D.C.—The U.S. Postal Service lost $3.1 billion in its third fiscal quarter ended June 30, compared with a loss of $3.5 billion in the year-earlier period. The Postal Service lost $5.7 billion through the first nine months of the current fiscal year, versus $5.4 billion in the year-earlier period.
Mail volume dropped to 39.8 billion pieces, down from 40.9 billion.
Even with continuing cost reductions
and revenue growth initiatives
that target commercial mailers, the Postal Service said it will have a cash shortfall and will have reached its statutory borrowing limit by Sept. 30, the end of its fiscal year.