Canada Post reports $277M pre-tax loss in second quarter

Canada Post says it lost $277 million before taxes in the second quarter of the year, marking an improvement from the same three-month period a year ago.

The postal service says the result compared with a loss of $407 million during the second quarter of 2025, when it was facing a prolonged period of labour uncertainty amid negotiations with the Canadian Union of Postal Workers.

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It credited labour stability for the smaller loss this year, as the parties ratified new collective agreements in June, along with an early-stage recovery of its parcels business and lower operating costs.

The Crown corporation saw its quarterly revenue grow by $22 million or 1.5 per cent compared with the second quarter of 2025, with parcels revenue up 20.7 per cent year-over-year.

Overall, Canada Post’s revenue for the first half of the year fell by $159 million or seven per cent, as its loss before tax for the first six months of 2026 was $482 million, compared with $448 million in the first half of 2025.

The postal service is moving forward with reforms meant to address its financial struggles, including the conversion of 621,000 homes from door-to-door delivery to community mailboxes in late 2026 and 2027. It plans to convert around four million addresses to community mailboxes over the long term.

This report by The Canadian Press was first published Aug. 28, 2026.