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The U.S. Postal Service on Thursday reported that it experienced a net loss of nearly $1.3 billion in the first quarter of fiscal 2026, as there continues to be a lack of consensus among postal leaders, stakeholders and lawmakers about how to fix the agency’s longstanding financial challenges.
Officials attributed the loss to a $634 million increase to workers’ compensation, among other spending hikes, paired with a $264 million reduction in operating revenue. In comparison, USPS saw a net income of $144 million during the first quarter of fiscal 2025.
USPS, however, experienced a net loss of $9 billion in fiscal 2025, and officials have projected that the postal agency will continue to operate in the red for fiscal 2026.
At a USPS Board of Governors meeting on Thursday, Postmaster General David Steiner and the board reiterated their argument that legislative and administrative reforms, such as raising the postal agency’s $15 billion statutory debt limit, are necessary to reverse these losses.
Steiner, who was appointed by the board in May 2025 reportedly with President Donald Trump’s backing, also requested last month that the Postal Regulatory Commission axe price caps for the system used to set prices for market dominant products (e.g. first-class mail, marketing mail, periodicals).
Postal stakeholders and lawmakers from both parties, however, have blamed USPS’ financial woes on Delivering for America, a plan started by former Postmaster General Louis DeJoy that he predicted would enable the agency to break even by fiscal 2023. The overhaul initiative generally entails slowing some delivery and increasing the price of certain products.
