2026/08/28
Canada Post has released its second-quarter 2026 financial results. While the Corporation posted a loss before tax of $277 million in the quarter, the labour stability with CUPW supported customer confidence and the early stages of a recovery of the Parcels business.
The company remains focused on rebuilding customer trust and improving service reliability. Work is under way to modernize the postal service and support its long-term financial sustainability.
Business recovery and enhancing core parcel services
We’re working to improve core services and strengthen our position in the highly competitive parcel delivery market. We’re doing this by:
- • Expanding home parcel pickup service
- • Offering box-free, label-free returns with select online retailers
- • Improving local next-day delivery service
- • Offering strategic pricing discounts for businesses
- • Preparing to launch weekend parcel delivery in the Ottawa, Montreal and Toronto metropolitan areas later this year
Modernizing the postal service
We continue to work closely with our bargaining agents and the Government of Canada on our modernization.
We’re currently engaging with communities across the country to convert 621,000 addresses from door delivery to secure community mailboxes in late 2026 and 2027. In total, approximately four million addresses will be converted to community mailboxes over a multi-year period, with different areas transitioning each year.
Improving core productivity and increasing efficiencies
We continue to work to improve core productivity and increase efficiencies in operations while focusing on service. In the second quarter, the company started realizing some cost efficiencies through increased staffing flexibility and more efficient workforce deployment; new vehicle sharing practices; the streamlining of letter mail operations; and other measures.
Total operating costs in the second quarter declined by $119 million, or 6.3 per cent, compared to the same period of the prior year.
Looking ahead
As we look to the remainder of 2026, labour stability with CUPW provides more certainty to focus on customers, service reliability and the changes needed to strengthen the business. While the company continues to face significant financial challenges, ongoing service enhancements and modernization efforts will help rebuild customer trust and support the business through the upcoming holiday shipping period.
Our people are critical to improving service reliability, rebuilding customer trust and growing our parcel volumes. Thank you for your dedicated service to Canadians.
More information
Read our second-quarter results news release