News releases

OTTAWA – Canada Post recorded a loss before tax of $254 million in the second quarter of 2023 as revenue fell across all lines of business.

Loss consistent with prior year as revenue gains offset by increased costs

OTTAWA – Canada Post recorded a loss before tax of $151 million in the second quarter of 2021, an improvement of $227 million from the $378 million loss before tax in the same quarter a year earlier. Although significant, this improvement resulted mainly from the unique unfavourable effects of COVID-19 on the business and one-time charges in 2020.

Canada Post recorded a loss before tax of $265 million in the third quarter of 2020, as declines in Transaction Mail and Direct Marketing revenue and higher costs had a significant impact on earnings. Parcels revenue continued to grow in the quarter, but it was not enough to offset these contributing factors.

Canada Post recorded a loss before tax of $378 million in the second quarter of 2020. This increased loss was largely due to the significant impact COVID-19 had on revenue and costs, combined with the added costs stemming from the June 2020 arbitrator’s ruling. The ruling resulted in new collective agreements with the Canadian Union of Postal Workers (CUPW).

OTTAWA – Canada Post recorded a loss before tax of $135 million in the third quarter of 2019, as ongoing declines in mail volumes were only partially offset by Parcels volume growth.