DHL Group has lifted its 2026 financial forecast, citing ongoing earnings growth in its express division and expectations of a strong peak shipping season fueled by holiday demand. The revised forecast reflects the group’s operating performance and its confidence in the period of increased shipping activity ahead.
The global logistics company said Friday it now forecasts full-year earnings before interest and taxes (EBIT) to be above €7 billion ($7.8 billion). That is better than its earlier forecast of $7.3 billion in operating earnings from its core business.
The group also raised its free cash flow guidance for the year to $3.6 billion from its prior estimate of $3.37 billion. Meanwhile, the company expects capital expenditure to be about $4 billion, compared with the $3.4 billion to $3.7 billion it had forecast, as it ramps up investment to support further expansion.
Among these initiatives, the company last week announced an planned investment of $450 million to expand DHL’s logistics capabilities in Central and Eastern Europe by 2030.
DHL Express fuels profit growth in the third quarter
DHL Group said EBIT for the third quarter was $1.92 billion, 16% higher year-on-year. The result also beat what analysts had been expecting.
The main driver of the improvement was DHL Express. Its adjusted operating profit rose 49.5% to $1.16 billion, helped by better yields, continued cost efficiencies and a more selective approach to taking on freight.
The division has been moving its focus to heavier air cargo shipments that typically command higher rates, away from lighter shipments carried by the company’s own airline. This year DHL has put a special emphasis on heavyweight air freight, and the tight conditions in the air freight market have provided an additional boost to performance.
Freight forwarding and contract logistics record strong growth
“DHL Global Forwarding also delivered better results in the quarter. Its EBIT amounted to $292 million, an increase of around one-third compared to the previous year, excluding minor one-off effects booked in 2025.
The group’s contract logistics business, DHL Supply Chain, also improved profitability. Adjusted earnings increased 7.9% to $337 million, reflecting continued improvements in the division’s operating performance.
Elsewhere in the group the results were weaker. DHL eCommerce posted adjusted operating profit of $56.2 million, down from $198 million in the third quarter of 2025. Last year included a special gain of $138.2 million.
Post & Parcel Germany took a hit as well, with operating profit down 32% to $168.5 million.
Growth plans boosted by increased investment spending
The rise in capital expenditure outlook reflects DHL Group’s commitment to strengthen its business and expand its capabilities despite the additional spending. The company also is preparing its operations to take advantage of further growth opportunities in addition to planned expansion in Central and Eastern Europe.
The group’s more optimistic outlook ahead of the peak shipping season is underpinned by the increased profit and free cash flow guidance and the strong contributions from DHL Express and DHL Global Forwarding.
DHL Group’s full third quarter earnings report is scheduled for release November 5.
