The abysmal financial situation of Canada Post only got worse in the first few months of 2026.
The Crown corporation says it lost $205-million in the first quarter of 2026, which is up substantially from the year before when they lost $41-million in the same timeframe.
Revenues fell by $181-million, or just over 14 per cent, in comparison to the first quarter of 2025.
Specifically, parcel revenue dropped by $79-million and volumes fell by seven million pieces, transaction mail revenue fell by $82-million and volumes dropped by 76-million pieces. As well, direct marketing revenue was $24-million less as volumes declined by 146 million pieces.
The company notes that the figures for transaction mail and direct marketing are skewed because there was a surge in mail in the first quarter of 2025 due to election mailings and a general backlog following the labour dispute in late 2024.
Canada Post notes that their workers are still without a collective agreement, which they believe has created “uncertainty” for customers.
The ratification process is expected to wrap up today
The Canada Post Group of Companies lost $251-million before taxes in the first quarter of this year, driven largely by Canada Post’s financial woes. Purolator recorded a profit of $23-million, an increase of $4-million from the previous year.
