Canada Post reports $107-million loss before tax in the first quarter


Canada Post has released its first quarter 2023 results. The Corporation recorded a loss before tax of $107 million as Parcels revenue was relatively flat and Transaction Mail and Direct Marketing revenue declined from the same period a year earlier.

The company continued to face intensifying competition in the parcel delivery sector. This increased competition as well as a softer ecommerce market negatively affected Parcels revenue and volumes in the first quarter.


  • The Canada Post segment’s loss before tax of $107 million in the first quarter marked an improvement of $22 million from the same period of 2022.
  • Revenue fell by $32 million, or 1.7 per cent, compared to the same period of 2022.
  • Parcels revenue was relatively flat as volumes declined slightly from the same period of the prior year.
  • Direct Marketing revenue and volumes fell as businesses continued to pull back on marketing, and Transaction Mail revenue and volumes continued to erode.
  • With Parcels representing approximately half of Canada Post’s revenue, we continue to invest to better position the company in a competitive market and ensure the postal service continues to be a valued delivery partner.
  • We’re making significant strategic investments to improve service and tracking, enable our network, increase capacity and enhance the customer experience.

Click here to read the news release.

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