U.S. Postal Service Posts Net Loss of $3.5 Billion in Third Quarter

Aug. 5 (Bloomberg) — The U.S. Postal Service, which has predicted it may lose $7 billion this year, posted a loss of $3.5 billion in its fiscal third quarter alone.

The net loss in the quarter ended June 30 widened from a year-earlier $2.4 billion, the agency said today in Washington. An $800 million adjustment to workers compensation liabilities accounted for most of the difference, according to the agency.

Mail volume dropped 1.7 percent, the smallest quarterly decrease in three years, Chief Financial Officer Joseph Corbett said at the Postal Service’s board meeting

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