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Canada Post segment reports $264-million loss before tax in third quarter
Loss consistent with prior year as revenue gains offset by increased costs
Read moreCanada Post segment reports $265-million loss before tax in third quarter
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.
Read moreCanada Post segment reports $378-million loss before tax in second quarter
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).
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