Canada Post records $277M loss before tax in 2nd quarter

Canada Post says it has recorded a loss of $277 million before tax in the second quarter of 2026.

However, Canada Post says it’s an improvement of $130 million compared to the same time last year when the Crown corporation reported a loss of $407 million before tax, the company announced Friday (Aug. 28).

At that time, Canada Post says it was facing a “prolonged period of labour uncertainty” after union negotiations and bargaining. The Crown corporation and then Canadian Union of Postal Workers ratified new collective agreements in June.

Revenue in the second quarter grew by $22 million compared to the same time in 2025, Canada Post says. However, revenue for the first six months of the year actually fell by $159 million, compared to the same period last year.

This latest report comes as Canada Post is working to transition the first batch of the remaining door-to-door delivery addresses to community mailboxes in late 2026 and 2027. The entire process is expected to take five years.

Door-to-door delivery costs about 75 per cent more than delivery to a community mailbox at $284 per address compared to $162, according to the May 2025 Industrial Inquiry Commission’s report into the state of Canada Post.

The report was bleak, noting that the Crown corporation was facing an existential crisis and is “effectively insolvent, or bankrupt. As part of the report, commissioner William Kaplan recommended ending door-to-door home delivery and lifting the moratoriums on rural post office closures and community mailbox conversions.

The Crown corporation will be working with the communities as it identifies suitable locations for the community mailboxes. Canada Post will also be notifying residents of the upcoming change in mail delivery.