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DHL Group sustained its strong business performance in the third quarter 2026, with operating profit at €1.7 billion, up 16.2% from €1.5 billion
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Revenue during the quarter was €22.7 billion, a 12.6% year-on-year increase from €20.1 billion
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With the sustained uptrend, the company is raising its full-year 2026 guidance to an operating profit of more than €7 billion from the previous more than €6.5 billion
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Growth was driven across regions and sectors, particularly in DHL Express, DHL Global Forwarding, and DHL Supply Chain
The DHL Group sustained its strong business performance in the third quarter of 2026, with operating profit at €1.7 billion, up 16.2% from €1.5 billion in the same period last year, driven by growth across regions and sectors, particularly in DHL Express, DHL Global Forwarding, and DHL Supply Chain.
Revenue during the quarter was €22.7 billion, a 12.6% year-on-year increase from €20.1 billion, while free cash flow , excluding mergers & acquisitions, reached €2.7 billion by end-September, the DHL Group reported.
“We successfully continued our growth trajectory in the third quarter, delivering a significant increase in revenue and earnings. Our strong operational performance enabled us to raise our full-year earnings guidance for the second time this year,” said DHL Group CEO Tobias Meyer.
The Germany-headquartered global logistics company released on October 16 its preliminary results and announced that it is raising its full-year 2026 guidance to an operating profit of more than €7 billion from the previous more than €6.5 billion.
READ: DHL Group records 8.3% higher operating profit in Q1
The strong operational performance is also reflected in cash flow, reaching €901 million in the third quarter, including net cash outflows of €256 million related to the United States tariffs (IEEPA). Consolidated net profit after non-controlling interests amounted to €907 million in the third quarter. Basic earnings per share reached €0.82, up 9.6% from €0.75 in the third quarter of 2025.
“Our continued strong earnings and cash flow generation enable us to invest selectively in further growth. We maintain a disciplined approach to capital allocation, strengthening the capabilities and efficiency of our network,” said DHL Group CFO Melanie Kreis.
DHL Express
One of the strongest performers in the groups was DHL Express with its targeted offering for time-critical heavy-weight shipments for industrial customers. The division significantly increased transported weight, improving utilization of its global network.
Its earnings before interest and taxes (EBIT) grew 50% to €1.04 billion in the third quarter from €692 million year-on-year.
READ: DHL Express sees heavyweight shipment surge in Asia Pacific, with PH among fastest growing
Disciplined yield and capacity management, together with structural cost improvements implemented over the past two years, further supported earnings performance. Temporary capacity constraints in the international air freight market generated additional demand, which DHL Express served through its own global network.
DHL Global Forwarding
A 32.7% growth in EBIT to €259 from €195 during the quarter in review was posted by DHL Global Forwarding with air freight volumes particularly strongly on trade lanes originating in Asia.
Ocean freight growth, meanwhile, was primarily driven by higher volumes from Asia and Europe. With its global network and local market expertise, the division helped customers adapt transport routes to changing trade flows and maintain reliable supply chains.
DHL Supply Chain
DHL Supply Chain continued its growth trajectory and recorded revenue growth across all regions.
The Americas business made a particularly important contribution, including in the Technology and Consumer sectors. Strong new contract wins, particularly in Retail including e-fulfillment solutions, and Technology, provide a solid basis for future growth.
The division continues to invest in automation, digitalization, and additional capacity to support its customers with modern logistics processes.
DHL eCommerce
DHL eCommerce generated organic revenue growth of around 6%.
The company said reported revenue development was affected by portfolio changes, particularly deconsolidation in the United Kingdom and Portugal. The decline in reported EBIT versus the prior-year figure was primarily due to positive one-off effects of €123 million in the third quarter of 2025. The division continues to integrate recent acquisitions while continuously optimizing its networks and processes.
Post & Parcel Germany
In its homebase, the domestic and international parcel business continued to support Post & Parcel Germany’s performance.
Parcel volume development was impacted, among other factors, by the abolition of the de minimis exemption in the European Union as of July 1. At the same time, the structural decline in mail volumes continued. Higher costs for personnel, energy, and transportation put additional pressure on operating profit.
Investments
Capital expenditures (capex) on acquired assets amounted to €897 million in the third quarter. As of end-September, capex totaled € .2 billion, up € 532 million compared with the prior-year period.
In Data Center Logistics, for example, DHL Supply Chain is investing in additional warehouse locations in North America while also expanding its capacity in the Asia Pacific region. DHL Group is combining expertise across multiple divisions to offer integrated end-to-end solutions for data centers. In addition, the Group continues to invest in digitalization, automation, and the capabilities of its existing network.
Looking ahead, the DHL Group, in line with its Strategy 2030, is further developing its service offering to address evolving customer requirements and additional logistics needs. Through its strategic growth initiatives, DHL Group focuses on regions and sectors where it expects particularly dynamic growth in customer demand. These include Life Sciences & Healthcare, New Energy, E-commerce, and Data Center Logistics.
“We remain focused on providing our customers with high service quality and sufficient capacity. Even in challenging conditions, we help them access markets and unlock new growth opportunities. That is why we are stepping up investments in our network and in new logistics capabilities needed to tap into the markets of the future,” Meyer said.
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