DHL Credits Air Cargo for 16% Third-Quarter Profit Surge

DHL credits air cargo strength for 16% third-quarter profit gain

DHL Group reported a sharp increase in third-quarter earnings, with its air express and freight forwarding operations providing much of the momentum. The company said operating profit rose 16.2% year over year as stronger shipment volumes, disciplined pricing and tight capacity management supported results across several of its major divisions.

Group revenue increased 12.6% to €22.7 billion in the third quarter of 2026, compared with €20.1 billion in the same period of 2025. Operating profit, or EBIT, reached €1.7 billion, up from €1.5 billion. The group’s EBIT margin improved to 7.6%, compared with 7.3% a year earlier.

DHL said the improvement was led primarily by DHL Express, DHL Global Forwarding and DHL Supply Chain. The company also pointed to resilient global trade, the pass-through of higher fuel and freight costs, and demand in several specialized industry sectors.

For professional drivers and trucking companies, the results offer a view into how air cargo, ocean freight and ground logistics are increasingly being managed as one connected network. DHL’s air freight growth creates additional demand for airport pickups, linehaul movements, warehouse transfers and final-mile deliveries tied to time-sensitive international shipments.

DHL Express EBIT increased 50% during the quarter, according to the company. Transported weight per day rose 9.7%, supported by increased use of DHL’s time-definite international air network for heavier industrial shipments. DHL said it has been targeting industrial customers that need reliable delivery for heavier parts and other business-to-business cargo.

That shift is significant because heavier shipments can improve aircraft utilization while generating higher rates than traditional parcel traffic. It also creates more work around the airport and distribution network, including trailer movements, cross-dock operations and expedited delivery to industrial customers.

Chief Financial Officer Melanie Kreis said the company sees demand for reliable, on-time delivery of heavier industrial components as a long-term growth opportunity. The strategy is focused on selected parts of the cross-border business-to-business market rather than simply pursuing additional parcel volume.

DHL also benefited from temporary constraints in international air cargo capacity. The company cited rerouting connected to the conflict involving Iran and demand from hyperscale technology companies as factors that increased demand for its freighter capacity and supported higher yields. The resulting spillover contributed approximately $112 million in additional EBIT, down from more than $167 million in the second quarter, when disruptions were greater.

The company’s figures identify that contribution in dollars, while DHL’s group financial results are reported in euros.

DHL Global Forwarding also posted strong growth. Revenue and operating profit increased substantially from the prior-year quarter, while air freight volumes rose 12%, with particularly strong activity on trade lanes originating in Asia. Ocean freight volumes increased 5%, driven mainly by higher flows from Asia and Europe.

Those international movements often feed directly into regional trucking networks. Air cargo arriving at major gateways must be moved to forwarders, warehouses, manufacturing sites and distribution centers, frequently under tight appointment and delivery windows. Changes in air and ocean capacity can therefore affect the amount, timing and urgency of freight available to ground carriers.

DHL Supply Chain reported a 12% increase in revenue to €4.94 billion. EBIT rose 8.1% to €301 million, although the division’s margin declined slightly to 6.1% from 6.3%. The Americas operation made an important contribution, particularly through technology and online retail customers. DHL said new contract wins are supporting future growth as the division invests in automation, digital systems and additional capacity.

Data center logistics was another important area during the quarter. Kreis said much of that business currently involves air freight, while DHL Supply Chain is adding customers that need equipment storage, delivery and installation. These projects can require coordinated movements across air, warehouse and truck operations, along with careful handling of high-value equipment.

DHL eCommerce recorded organic revenue growth of about 6%, although reported results were affected by portfolio changes, including deconsolidation in the United Kingdom and Portugal. The division’s reported EBIT declined compared with the third quarter of 2025, when it benefited from a positive one-time effect.

The company raised its 2026 guidance for the second time on Oct. 16. DHL now expects full-year operating profit of more than €7.0 billion and free cash flow, excluding mergers and acquisitions, of more than €3.2 billion. Free cash flow for the first nine months reached €2.7 billion, compared with €2.3 billion in the same period last year.

DHL said it plans to use its earnings and cash flow to invest selectively in network capabilities and efficiency. For the ground transportation sector, the company’s performance underscores the continued importance of integrated logistics networks, where truck capacity supports the movement of freight before and after international air and ocean legs.