OTTAWA, ON, May 29, 2026 /CNW/ - Canada Post recorded a loss before tax of $205 million in the first quarter of 2026 as revenue and volumes declined across all lines of business, reinforcing the urgency of the Corporation's transformation that's now underway.
The company's $205-million loss before tax in the first quarter deteriorated by $164 million compared to a loss before tax of $41 million in the first quarter of the prior year. Revenue fell by $181 million, or 14.3 per cent,1 in the first quarter compared to the same period of 2025.
A multi-year transformation to make the company and the country stronger
Canada Post has begun a critical transformation that will strengthen the postal service, better support businesses and enable national commerce, while helping the Corporation meet its dual mandate of delivering for all Canadians in a way that is financially self-sustainable. The multi-year transformation is essential for the company to move away from taxpayer-funded cash injections.
Canada Post is committed to moving forward with its transformation in a timely manner, while working closely with its bargaining agents and the Government of Canada.
Continued labour uncertainty weighed on customer demand in first quarter
In the first quarter of 2026, the company continued to be without new collective agreements with the Canadian Union of Postal Workers (CUPW). A ratification vote by employees on tentative agreements is currently taking place from April 20 to May 30, 2026. This uncertainty for customers continued to weigh on Parcels results in the first quarter, with revenue down by $79 million compared to the same period of the prior year. Volumes ...
