Canada Post reports it lost $205M before taxes in first quarter
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OTTAWA – Canada Post says it lost $205 million before taxes in the first quarter of the year as the postal service moves forward with reforms meant to address its ongoing struggles.
The Crown corporation saw its revenue fall by $181 million or 14.3 per cent compared with the same three-month period in 2025, as its total losses ballooned by $164 million year-over-year.
It says labour uncertainty weighed on customer demand, as Canada Post continued to be without new collective agreements with the Canadian Union of Postal Workers.
Postal workers started voting April 20 on a five-year contract agreement that follows more than two years of labour strife, with voting set to wrap up Saturday.
Earlier this month, the federal government approved up to $673 million to keep the mail service afloat for the current fiscal year after it reported a $1.57-billion loss before taxes for 2025.
As part of its transformation, Canada Post has begun preliminary work to convert addresses that receive door-to-door mail to community mailboxes, and to phase out some post offices.
This report by The Canadian Press was first published May 29, 2026.