Canada Post lost hundreds of millions of dollars in the second quarter of 2026, but the company says things are improving.

Before taxes, the crown corporation lost $277-million in the second quarter of 2026. However, that’s far less than the $482-million the company lost in the first quarter of the year, and the $407-million lost in the second quarter of 2025 when they were facing a prolonged period of uncertainty in negotiations with the Canadian Union of Postal Workers.

In June, the company ratified new collective agreements with CUPW, which will remain in place until the end of January 2029.

While Canada Post’s overall revenue for the first half of the year has fallen by $159-million compared to the previous year, revenue for the second quarter grew by $22-million by comparison.

The crown corporation attributes its declining losses to more customer confidence due to increased labour stability, early-stage recovery of the parcels business, and reduced operating costs.