Canada Post logs $205M loss before tax in first quarter

A Canada Post mail box is pictured in Richmond B.C. on Friday, Sept. 26, 2025. THE CANADIAN PRESS/Ethan Cairns

Canada Post says it has recorded a pre-tax loss of $205 million for the first quarter of 2026, due to revenue and volume declining “across all lines of business.”

In a media release on Friday, the federal Crown corporation revealed the first-quarter loss is substantially more than the Q1 loss recorded 2025, where Canada Post lost $41 million before tax, an increase of $164 million.

The corporation’s revenue also took a hit, falling by $181 million, or 14.3 per cent, in the first quarter of 2026 compared to the same period of 2025.

Canada Post says the figures have reinforced the urgency of the corporation’s transformation that is “now underway.”

The multi-year transformation will involve collaboration between Canada Post’s bargaining agents and the federal government, with the goal to “move away from taxpayer-funded cash injections.”

In 2025, Canada Post received an initial, repayable federal government cash injection of $1.03 billion to support its deteriorating financial situation and to prevent insolvency. The money failed to sustain the postal service past early February 2026.

READ MORE: Feds greenlight $673 million to keep Canada Post afloat this year

Earlier this May, the federal government greenlit an additional $673 million to keep Canada Post afloat this year.

More details to follow...