Canada Post reported a $315 million loss before tax in Q3, up from a loss of $290 million year-over-year, highlighting struggles amidst operational shutdowns.
The ongoing strike, involving around 55,000 workers, has severely impacted Canada Post's financial performance, with revenue growth in direct marketing insufficient to offset parcel drops.
The Canada Post Group saw a $252 million loss before tax in Q3, an increase from $217 million year-over-year, indicating a concerning trend in profitability.
Despite Purolator's slight drop in profit before tax to $62 million, it continues to operate as a subsidiary of Canada Post, impacting overall corporate results.
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