DHL Credits Air Cargo for 16% Third-Quarter Profit Growth
DHL calls out air cargo contribution to 16% Q3 profit gain
DHL Group reported another quarter of higher revenue and profit, with air cargo playing a central role in the company’s performance. Group revenue rose 12.6% year over year in the third quarter of 2026 to €22.7 billion, while operating profit increased 16.2% to €1.716 billion.
The stronger earnings lifted DHL’s operating margin to 7.6%, compared with 7.3% in the same quarter a year earlier. Net profit attributable to DHL AG shareholders increased 8% to €907 million, while basic earnings per share rose from €0.75 to €0.82.
Based on the results through the first nine months of the year, DHL raised its full-year operating-profit guidance to more than €7 billion. The company also reported continued positive momentum across its Express, Global Forwarding and Supply Chain divisions.
Air freight volumes rise 12%
DHL Global Forwarding, the company’s freight-forwarding business, benefited from stronger air and ocean freight activity during the quarter. Air freight volumes increased 12% from the prior year, with the strongest growth on trade lanes originating in Asia. Air freight revenue climbed 30.4%, while gross profit rose 28.5%.
Ocean freight volumes increased 4.8%, led by trade lanes connected to Asia and Europe. Revenue in the ocean freight business rose 26.8%, and gross profit increased 12.1%. DHL said the results reflected higher volumes and freight rates in a market that remains volatile.
Global Forwarding’s operating profit rose 32.7% from the prior-year quarter. The division’s performance points to continued demand for international transportation services, even as shippers manage changing trade routes, higher costs and uneven capacity conditions.
For professional drivers, the growth in forwarding is relevant beyond the air and ocean networks. Higher international volumes can create additional work across drayage, warehouse transfers, airport linehaul and domestic distribution. When freight moves between modes, trucking remains the link connecting airports, seaports, terminals and customer facilities.
Express benefits from heavier shipments
DHL Express reported quarterly EBIT of approximately €1.035 billion, compared with €692 million in the third quarter of 2025. The prior-year result included €54 million in negative nonrecurring effects.
The division said total shipment weight increased 9.7% on a daily basis. DHL has been expanding its focus on time-critical, heavy-weight shipments for industrial customers, using its international air network to handle freight that is larger and typically more valuable than standard parcels.
The additional weight improved utilization of DHL’s aircraft and delivery network. The company said the results also reflected disciplined pricing, cost controls, yield management and operating leverage from higher volumes.
Chief Financial Officer Melanie Kreis said industrial customers have a need for reliable, time-definite transportation of heavier parts and equipment. DHL views that business as a longer-term opportunity within the broader cross-border business-to-business market.
Third-quarter Express earnings also received a benefit of about €100 million from temporary capacity constraints in the air freight market. Those conditions increased demand for available aircraft capacity and supported yields, although DHL described the effect as temporary rather than a permanent change in the market.
Supply Chain continues to expand
DHL Supply Chain reported 12% revenue growth in the quarter and an 8% increase in EBIT. The division continued to win contracts and invest in automation, digitalization and additional capacity.
The Americas business made a significant contribution, particularly in technology and online retail. DHL also highlighted growing demand connected to data-center logistics. While much of that activity currently involves air freight, the company is adding Supply Chain services for equipment storage, delivery and installation.
Other targeted growth areas include life sciences and health care, electric vehicles and battery storage, e-commerce and logistics for data centers. These businesses often require coordinated transportation, warehousing and specialized handling rather than a single freight movement.
DHL eCommerce posted organic revenue growth of about 6%, although reported revenue was affected by portfolio changes, including deconsolidation in the United Kingdom and Portugal. Its EBIT declined from the prior year, in part because the 2025 quarter benefited from one-time effects.
Post & Parcel Germany continued to receive support from domestic and international parcel operations. However, mail volumes continued their structural decline, while personnel, energy and transportation costs pressured operating profit. Parcel volumes were also affected by changes to the European Union’s de minimis rules that took effect July 1.
What the results mean for trucking
DHL’s quarterly figures show a logistics market where demand is growing unevenly across modes. Air freight recorded the fastest volume and revenue growth, while ocean freight also expanded despite continuing volatility. The company’s stronger results were supported by higher shipment weights, improved network utilization, pricing actions and cost management.
That combination can influence trucking operations at both ends of international supply chains. More air cargo can mean additional airport pickups, transfers between hubs and customer deliveries, while stronger ocean volumes can increase drayage and inland freight demand. At the same time, changing trade patterns may require carriers and shippers to adjust routes, schedules and equipment needs.
DHL said it expects to build on current revenue momentum by expanding capabilities in industries and regions with higher growth potential. Its decision to raise full-year guidance reflects confidence in the earnings trend, but the company continues to operate in a market shaped by volatile freight rates, changing trade flows and temporary capacity constraints.
