Canada Post reports historical loss before tax in third quarter

Canada Post has reported its largest quarterly loss in the company’s history.

In a statement released Friday, the Crown corporation said its third quarter loss before tax is $541 million as labour uncertainty drives customers to its competitors.

The statement said ongoing strike activity and uncertainty continued to drive customers to competitors for their deliveries, leading to a Parcels revenue decline of approximately 40 per cent.

The national mail carrier said its loss before tax of $541 million widened by $226 million compared to a loss before tax of $315 million in the same period a year earlier.

For the first nine months of 2025, Canada Post recorded a loss before tax of $989 million, compared to a loss before tax of $345 million in the same period a year earlier.

It has lost $989 million so far this year with most of the red ink tied to labour uncertainty during ongoing rotating strikes.

Talks with the Canadian Union of Postal Workers have stretched beyond two years as the holiday season approaches.

On Tuesday, the Crown corporation’s CEO said it expects to lose up to 30,000 employees to retirement or voluntary departure over the next decade as it tries to get costs under control.

With files from the Canadian Press

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