2026/05/29
Ongoing losses underscore the urgency of transformation
Canada Post has released its first-quarter 2026 results. The company recorded a loss before tax of $205 million as revenue and volumes declined across all lines of business – reinforcing the urgency of the Corporation’s transformation that’s now underway.
- The $205-million loss before tax in the first quarter (Q1) deteriorated by $164 million compared to a loss before tax of $41 million in the same period last year. Revenue fell by $181 million, or 14.3 per cent, in Q1 compared to the same period of 2025.
- In Q1, Parcels revenue declined by $79 million, or 17.1 per cent, while volumes fell by 7 million pieces, or 17.2 per cent, compared to the same period in 2025. Collective agreements with CUPW had not yet been ratified in Q1, which resulted in uncertainty for customers and pushed deliveries to competitors. Parcel volumes will be slow to win back, reinforcing the critical need to transform in a competitive market.
- Transaction Mail revenue fell by $82 million, or 13.7 per cent, in Q1 as volumes declined by 76 million pieces, or 15.7 per cent, compared to the same period a year earlier. The results were also affected by year-over-year comparisons to Q1 2025, when letter mail volumes surged due to election mailings and a backlog following the labour disruption in late 2024.
- Direct Marketing revenue fell by $24 million, or 13.4 per cent, in Q1 as volumes declined by 146 million pieces, or 17.0 per cent, compared to the same period in 2025. The year-over-year comparisons were affected by a strong first quarter in 2025, due to pent up demand following the 2024 labour disruption.
Essential multi-year transformation now underway
Our transformation will strengthen the postal service, better support businesses and help us meet our dual mandate of delivering for all Canadians in a way that is financially self-sustainable. The multi-year transformation is essential for the company to move away from taxpayer-funded cash injections.
More information
Read the news release.