usps fy 2013 1st quarter financials presentation
TRANSCRIPT
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
1/20
1
Board of Governors
Friday, February 8, 2013
Open Session
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
2/20
Financ ia l Resul t s
Quar t er I o f Fisc a l Year 2013
Open Board Session
Februar y 8, 2013
2
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
3/20
Financial Results
Quarter 1 YTD - 3 Months FY FY
(Billions) 2013 2012Revenue $17.7 $17.7
Expenses * 17.5 17.5Separation Incentive Costs 0.1 -
Operating Income (Loss)* 0.1 0.2Retiree Health Benefits Pre-Funding (1.4) (3.1)Workers' Comp. Fair Value Adj. 0.2 (0.1)
Workers' Comp. Other Non-Cash Adj. (0.2) (0.3)
Net Income (Loss) ($1.3) ($3.3)
Liquidity (Days Cash) 10 11
Volume (pieces) 43.5 43.6* Before RHB pre-funding and non-cash adjustments to workers compensation liabilities.
3
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
4/20
$ Billions
Revenue FY12 Q1 vs. FY13 Q1
-3.1%
+3.1%
+4.7%
-0.1%
-6.3%
Volume: +3.6%
Volume: -4.5%
Volume Up: 4.0%
4
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
5/20
Financial Results
Quarter 1 YTD - 3 Months FY FY
(Billions) 2013 2012Revenue $17.7 $17.7
Expenses * 17.5 17.5Separation Incentive Costs 0.1 -
Operating Income (Loss)* 0.1 0.2Retiree Health Benefits Pre-Funding (1.4) (3.1)Workers' Comp. Fair Value Adj. 0.2 (0.1)
Workers' Comp. Other Non-Cash Adj. (0.2) (0.3)
Net Income (Loss) ($1.3) ($3.3)
Liquidity (Days Cash) 10 11
Volume (pieces) 43.5 43.6* Before RHB pre-funding and non-cash adjustments to workers compensation liabilities.
5
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
6/20
Quarter I YTD - 3 months(Billions)
FY2013
FY2012
Compensation $9.6 9.6
Benefits 3.8 3.8
Transportation 1.8 1.8
Depreciation 0.5 0.6
Supplies & Services 0.6 0.5
Rent, Utilities & Other1.2 1.2
Operating Expenses * $17.5 17.5
Workhour Reductions (Millions) (1) (3)
Operating Expenses
* Before RHB pre-funding, non-cash adjustments to workers compensation liabilities.
6
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
7/20
Financial Results
Quarter 1 YTD - 3 Months FY FY
(Billions) 2013 2012Revenue $17.7 $17.7
Expenses * 17.5 17.5Separation Incentive Costs 0.1 -
Operating Income (Loss)* 0.1 0.2Retiree Health Benefits Pre-Funding (1.4) (3.1)Workers' Comp. Fair Value Adj. 0.2 (0.1)
Workers' Comp. Other Non-Cash Adj. (0.2) (0.3)
Net Income (Loss) ($1.3) ($3.3)
Liquidity (Days Cash) 10 11
Volume (pieces) 43.5 43.6* Before RHB pre-funding and non-cash adjustments to workers compensation liabilities.
7
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
8/20
(1)
0
1
2
3
4
5
6
7
8
9
10
11
12
13
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Liquidity includes unrestricted cash plusavailable borrowing, up to $15B limit
Days of Operating Cash based on averageoperating costs disbursed per day ~$265M
Mid-October Balances shown - Lowpoints after annual Workers
Compensation payments to DOL
Days FY 2012
Three months in 2013 haveliquidity below $1.3B (5 daysof operating cash on hand)
No Retiree Health Benefits Pre-Funding included ($11.1B in 2012 and $5.6 B in 2013)
Current Forecast
Actual
FY 2013
2012 & 2013 LiquidityDays of Operating Cash on Hand
8
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
9/20
Quarter 1, Fiscal Year 2013Service Performance and
Customer ExperienceBoard of Governors
Open SessionFebruary 8, 2013
Megan J. BrennanChief Operating Officer
9
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
10/20
Our Employees Delivered
Quarter 1 Performance
First-Class Mail
Improved Performance
Overnight
2 Day 3-5 Day
10
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
11/20
FIRST-CLASS MAILSERVICE PERFORMANCE
11
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
12/20
75
80
85
90
95
100
Source: Product Information
Quarter 1 Performance
First-Class Overnight
QTR 1 SPLY
96.20 95.73
Target 96.70
12
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
13/20
75
80
85
90
95
100
Source: Product Information
Quarter 1 Performance
First-Class 2-Day
QTR 1 SPLY
95.7192.72
Target 95.10
13
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
14/20
75
80
85
90
95
100
Source: Product Information
Quarter 1 Performance
First-Class 3-5 Day
QTR 1 SPLY
93.93 92.83
Target 95.00
14
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
15/20
75
80
85
90
95
100
Source: Product Information
International Single Piece First-Class
Qtr 1 SPLY
84.17
87.72
Quarter 1 Performance
Target 94.00
15
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
16/20
CUSTOMER EXPERIENCEMEASUREMENT (CEM)
16
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
17/20
0
20
40
60
80
100
Source: CEM
Overall Experience
Customer Experience Measurement
88.4084.20
88.5984.13
Residential Small/ Medium Business
QTR 1 SPLY
17
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
18/20Source: CEM
National - Residential
Customer Experience Measurement
91.12 90.8185.35
62.01
91.21 91.05
84.86
62.49
0
20
40
60
80
100
Receiving Sending PO Visit Contact
QTR 1 SPLY
18
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
19/20Source: CEM
National Small Business
Customer Experience Measurement
Receiving Sending PO Visit Contact
QTR 1 SPLY
0
20
40
60
80
100
88.1487.22
80.75
52.43
88.1387.30
79.78
51.81
19
-
7/29/2019 USPS FY 2013 1st Quarter Financials Presentation
20/20
Areas of Focus
Improving Customer Experience
Employee Engagement
Customer Experience Essentials
Effective Use of Data and Diagnostic Tools
to Drive Continuous Improvement
20