DHL Group has raised its full-year 2026 earnings forecast following strong third-quarter results, supported by higher demand and improved profitability across its logistics operations.
The company now expects Group earnings before interest and taxes (EBIT) to exceed €7 billion, up from its previous forecast of more than €6.5 billion.
The revised outlook reflects stronger earnings momentum, particularly in DHL Express, alongside expectations of a robust seasonal peak in the fourth quarter.
Third-quarter revenue and earnings increase
DHL Group reported preliminary third-quarter revenue of approximately €22.6 billion, an increase of more than 12% compared with the same period last year.
Group EBIT rose by around 16% to €1.71 billion, compared with €1.48 billion in the third quarter of 2025.
DHL Express recorded EBIT of approximately €1.04 billion, up from €692 million a year earlier. The improvement was supported by pricing and cost measures, higher shipment weights and operating efficiencies.
The division also benefited by around €100 million from capacity constraints in the air freight market.
DHL Global Forwarding increased EBIT to approximately €260 million, compared with €195 million a year earlier.
Meanwhile, DHL Supply Chain reported EBIT of around €300 million, up from €278 million in the corresponding quarter of 2025.
DHL eCommerce recorded EBIT of approximately €50 million, compared with €176 million last year. The previous year’s figure included €123 million in positive non-recurring effects.
DHL increases cash flow and investment forecasts
Alongside its higher earnings outlook, DHL Group raised its full-year free cash flow forecast, excluding net mergers and acquisitions, to more than €3.2 billion. The previous estimate was approximately €3 billion.
The company also increased its planned capital expenditure for 2026 to around €3.6 billion, from an earlier range of €3 billion to €3.3 billion.
DHL said the additional investment would allow it to pursue selected growth opportunities.
The Group expects combined EBIT from its DHL divisions to exceed €6.4 billion, compared with its previous forecast of more than €5.9 billion.
Its outlook for Post & Parcel Germany remains unchanged at more than €900 million in EBIT.
DHL Group will publish its full third-quarter financial report on November 5, 2026.
