Canada Post reports $541-million loss before tax in third quarter

Canada Post has released its third-quarter 2025 results. The company’s financial situation continued to deteriorate as the Corporation recorded a loss before tax of $541 million. Ongoing strike activity and uncertainty continued to drive customers to competitors for their deliveries, leading to a Parcels revenue decline of approximately 40 per cent.

Highlights

• For the first nine months of 2025, Canada Post recorded a loss before tax of $989 million. The company’s year-to-date results put it on track to record a 2025 loss that’s significantly larger than any in its history.
• In the third quarter of 2025, Parcels revenue fell by $297 million, or 39.8 per cent, as volumes declined by 27 million pieces, or 42.5 per cent, compared to the same period of 2024. Revenue fell sharply as strike activity and uncertainty about service disruptions drove customers to flexible competitors that could offer delivery stability.
• In the third quarter, Transaction Mail revenue increased by $59 million, or 11.3 per cent, as volumes declined by 34 million pieces, or 7.1 per cent, compared to the same period a year earlier. While Transaction Mail continues to erode, in the first three quarters of 2025 the line of business benefitted from a postage rate increase in January 2025, as well as Lettermail volume increases related to election mailings and a temporary surge following the national strike in the fourth quarter of 2024.
• In the third quarter, Direct Marketing revenue fell by $46 million, or 18.5 per cent, as volumes declined by 334 million pieces, or 30.0 per cent, compared to the same period of the previous year. Labour uncertainty affected the line of business as customers sought to avoid time-sensitive mailings getting trapped in the postal network.

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2025/11/21

Canada Post reports $407-million loss before tax in second quarter

Corporation reports its largest quarterly loss as parcel revenue and volumes fall 37 per cent due to labour uncertainty

Canada Post has released its second-quarter 2025 results. The Corporation recorded a loss before tax of $407 million in the quarter as Parcels results declined sharply due to labour uncertainty.

The second-quarter loss of $407 million marked the Corporation’s largest loss before tax in a single quarter, with profitability deteriorating by $453 million compared to a profit before tax of $46 million in the same period a year earlier. The loss before tax in the first half of 2025 was $448 million, compared to a loss before tax of $30 million in the same period of the prior year. The 2024 results were positively impacted by the sale of SCI and Innovapost in the first and second quarters, respectively, of last year. For 2025, more than 50 per cent of the year-to-date losses occurred in June, when labour uncertainty was at its peak.

During the second quarter (Q2) of 2025, the company continued to operate without new collective agreements with the Canadian Union of Postal Workers (CUPW). On May 23, CUPW initiated strike action by refusing to work overtime across the company, producing more uncertainty for Canada Post’s customers following CUPW’s 32-day national strike in late 2024.

Highlights

• In Q2 and the first half of 2025, Canada Post’s overall revenue fell by $145 million, or 7.3 per cent, and by $103 million, or 1.5 per cent, respectively, compared to the same periods of the prior year.
• Parcels results declined sharply in Q2 as the strike activity and labour uncertainty drove customers to other carriers for their deliveries.
• In Q2, Parcels revenue fell by $288 million, or 36.7 per cent, as volumes declined by 25 million pieces, or 36.5 per cent, compared to the same period of 2024. For the first six months of the year, Parcels revenue declined by $482 million, or 29.6 per cent, as volumes fell by 43 million pieces, or 31.1 per cent, compared to the same period of the prior year. Volumes fell sharply after CUPW started strike activity (overtime ban) on May 23, 2025.
• While Transaction Mail continues to be in secular decline, the line of business benefitted from the Ontario provincial election in Q1 and the federal election mailings in Q2. The company’s May 2024 and January 2025 regulated postage rate increases also helped improve the year-over-year revenue comparisons for the line of business.
• In Q2, Transaction Mail revenue increased by $153 million, or 28.4 per cent, as volumes rose by 11 million pieces, or 3.5 per cent, compared to the same period a year earlier. For the first half of 2025, Transaction Mail revenue increased by $376 million, or 32.8 per cent, as volumes rose by 53 million pieces, or 6.2 per cent, compared to the same period of 2024.
• Labour uncertainty affected the Direct Marketing line of business as customers sought to avoid the possibility of time-sensitive mailings getting trapped in the postal network. In Q2, Direct Marketing revenue fell by $23 million, or 7.5 per cent, as volumes declined by 175 million pieces, or 13.2 per cent, compared to the same period of the previous year. For the first half of the year, Direct Marketing revenue fell by $12 million, or 1.0 per cent, as volumes decreased by 106 million pieces, or 3.1 per cent, compared to the same period of 2024.
• Canada Post recently reported a 2024 loss before tax of $841 million – its seventh consecutive annual loss – and is on track to post a larger loss in 2025. From 2018 to Q2 2025, the company lost more than $4.2 billion before taxes, with cumulative losses from operations of over $5 billion.

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2025/08/26

Canada Post reports $41-million loss before tax in first quarter

Canada Post has released its first-quarter 2025 results. The Corporation recorded a loss before tax of $41 million in the quarter as Parcels results declined significantly and Transaction Mail and Direct Marketing revenue grew.

While results temporarily improved in the first quarter, Canada Post continues to confront significant challenges. The company recently reported a loss before tax of $841 million in 2024 – the seventh consecutive annual loss for the Corporation. From 2018 to 2024, the Corporation lost more than $3.8 billion before taxes.

Highlights

• The loss before tax in the first quarter improved by $35 million compared to a loss before tax of $76 million in the first quarter of the prior year. Revenue increased by $42 million, or 4.0 per cent, compared to the same period of 2024.
• The impacts of the 2024 labour disruption continued to weigh heavily on the Parcels business, as many customers that had turned to other carriers for their shipments during the strike have not yet returned. Canada Post continued to be without new collective agreements with the Canadian Union of Postal Workers (CUPW) in the first quarter, creating ongoing uncertainty for customers.
• For the first quarter, Parcels revenue declined by $194 million, or 22.9 per cent, while volumes fell by 18 million pieces, or 25.8 per cent, compared to the same period in 2024.
• While Transaction Mail continues to erode more broadly, the line of business benefitted from election mailings in the first quarter, as well as a one-time volume surge that followed the strike at the end of 2024. Regulated postage rate increases in 2024 and 2025 also positively contributed to results.
• In the first quarter, Transaction Mail revenue rose by $223 million, or 36.7 per cent, as volumes increased by 42 million pieces, or 8.6 per cent, compared to the same period a year earlier.
• Direct Marketing experienced higher sales partly due to a resurgence of business following the labour disruption. In the first quarter, Direct Marketing revenue grew by $11 million, or 5.8 per cent, as volumes increased by 69 million pieces, or 8.3 per cent, compared to the same period in 2024.

Group of Companies update

On January 31, 2025, Purolator Holdings Ltd. acquired international trade-services firm Livingston International, which specializes in customs brokerage, global freight forwarding and trade consulting. The acquisition supports Purolator’s strategy to expand its international capabilities.

More information

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2025/05/28

Canada Post records $315-million loss before tax in third quarter

Canada Post has released its third-quarter 2024 results. The Corporation recorded a loss before tax of $315 million in the quarter, compared to a loss before tax of $290 million in the same period a year earlier.

An increasingly crowded and highly competitive ecommerce delivery market continued to impact Parcels results in the third quarter. While Transaction Mail volume continued to erode, revenue rose due to an increase in regulated stamp rates. Direct Marketing revenue and volume experienced robust growth.

Highlights

• For the first nine months of 2024, the Corporation recorded a loss from operations of $803 million, compared to $662 million in the same period of the previous year. The loss from operations excludes any income received from the divestitures of SCI Group Inc. and Innovapost Inc.
• Canada Post will record another significant loss in 2024, the seventh consecutive annual loss for the Corporation.
• Revenue in the third quarter fell by $15 million, or 1.0 per cent, compared to the same period a year earlier.
• Parcels results continued to be impacted by a highly competitive and demanding parcel delivery market. In the third quarter, Parcels revenue fell by $46 million, or 5.8 per cent, as volumes declined by 6 million pieces, or 9.6 per cent, compared to the same period of 2023.
• While Transaction Mail volume continued to erode in the third quarter, revenue increased compared to the same quarter of 2023 due to a regulated postage rate increase that took effect in May 2024. Transaction Mail revenue increased by $7 million, or 1.3 per cent, as volumes declined by 33 million pieces, or 6.6 per cent, compared to the same period a year earlier.
• Direct Marketing results benefitted from new business and higher sales for the Canada Post Neighbourhood Mail service. In the third quarter, Direct Marketing revenue rose by $21 million, or 9.0 per cent, as volumes increased by 201 million pieces, or 22.1 per cent, compared to the same period of the previous year.

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2024/11/22

Operating loss of $269 million in second quarter offset by divestitures of SCI and Innovapost

Canada Post has released its second-quarter 2024 results. The Corporation recorded a profit before tax of $46 million in the second quarter of 2024, as income from the divestitures of Innovapost Inc. and SCI Group Inc. offset a loss from operations of $269 million.

Intense competition continued to impact all aspects of the Parcels business in the second quarter of 2024. Transaction Mail volume continued to erode, while Direct Marketing revenue and volumes picked up.

Highlights

• Canada Post’s revenue in the second quarter was relatively flat compared to the same period a year earlier.
• The Corporation recorded a loss from operations of $269 million in the second quarter, compared to a loss from operations of $259 million in the same period of the prior year. In the first six months of 2024, the loss from operations was $490 million, compared to $371 million in the same period of 2023. The loss from operations excludes any income from the divestitures.
• Parcels results continued to be impacted by a crowded and competitive delivery market. In the second quarter, Parcels revenue fell by $28 million, or 5.0 per cent, as volumes declined by 4 million pieces, or 7.2 per cent, compared to the same period of 2023.
• While Transaction Mail continued to erode, an increase in regulated postage rates in May 2024 helped soften the impact of declining volumes. Transaction Mail revenue increased by $13 million, or 0.6 per cent, as volumes declined by 14 million pieces, or 3.9 per cent, compared to the same period a year earlier.
• Direct Marketing results benefitted from new business and higher sales for the Canada Post Neighbourhood Mail™ service. In the second quarter, Direct Marketing revenue rose by $19 million, or 6.2 per cent, as volumes increased by 175 million pieces, or 15.2 per cent, compared to the same period of the previous year.
• The strategic divestitures of SCI, a leading Canadian third-party logistics provider, and Innovapost, our IT shared-services provider, allow us to focus the business on our core mandate of providing a modern postal service to Canadians.

 
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2024/08/23