Canada Post Posts $277 Million Second-Quarter Loss
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The Crown corporation reports a narrowing quarterly deficit but an overall increase in six-month losses as it pushes for delivery reforms.
Canada Post reported a pre-tax loss of $277 million for the second quarter of 2026, according to reporting from CityNews Toronto. While the figure represents an improvement over the $407 million loss recorded during the same period in 2025, the organization's overall financial health remains strained. For the first half of 2026, the postal service saw its loss before tax grow to $482 million, up from $448 million during the first half of 2025.
CityNews Toronto reports that quarterly revenue rose by 1.5 per cent, or $22 million, compared to the second quarter of 2025. This growth was driven largely by a 20.7 per cent year-over-year increase in parcels revenue. However, total revenue for the first six months of the year declined by $159 million, a seven per cent drop.
Canada Post attributed the improved second-quarter results to lower operating costs, a nascent recovery in its parcels sector, and labor stability following the ratification of new collective agreements with the Canadian Union of Postal Workers in June.
To combat ongoing financial instability, the Crown corporation is implementing structural reforms. CityNews Toronto reports that Canada Post intends to convert 621,000 homes from door-to-door delivery to community mailboxes throughout late 2026 and 2027, with a long-term goal of converting approximately four million addresses.