DHL earnings date and guidance
MyStockButler's October 2026 analysis: DHL's next results are expected on November 5, 2026. Watch whether Express weight, pricing and costs support earnings after the air-capacity benefit.
What has DHL guided for 2026?
On October 16, management said it expects more than €7.0 billion of group EBIT in 2026, up from more than €6.5 billion. EBIT is operating profit before financing costs and tax. DHL also expects more than €3.2 billion of free cash flow excluding acquisitions and disposals: cash left after operations, investment, leases and interest.
| Period | Low | High | Given on | |
|---|---|---|---|---|
| Group EBIT | Year to Dec 2026 | 7,000 | Oct 16, 2026 | |
| DHL | Year to Dec 2026 | 6,400 | Oct 16, 2026 | |
| P&P Germany | Year to Dec 2026 | 900 | Oct 16, 2026 | |
| Free cash flow (Excl. Net M&A) | Year to Dec 2026 | 3,200 | Oct 16, 2026 | |
| Gross capex (excl. leases) | Year to Dec 2026 | 3,600 | 3,600 | Oct 16, 2026 |
| ROIC (return on invested capital) | Year to Dec 2026 | 13.9% | Aug 5, 2026 |
What this means. The negative 400 million euros for Group Functions means these shared company costs reduce profit.
Has DHL kept its past promises?
Management’s record earns a middle grade: three out of five assessed promises were met or exceeded. Earlier ambitions for 2024 and 2025 proved too bold and were reduced, although cash-flow guidance was generally more cautious.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Group EBIT | 5 years | 3 | 0 | 2 |
| DHL divisions EBIT | 5 years | 2 | 1 | 2 |
| Free cash flow | 4 years | 3 | 0 | 1 |
What do DHL's last eight reported periods show?
For the third quarter of 2026, DHL estimated revenue at about €22.6 billion, more than 12% above the prior year. Estimated EBIT was about €1.71 billion, compared with €1.48 billion a year earlier. The full accounts were still due later, so these figures provide an early signal rather than a final result.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22,367 | 20,420 | 22,093 | 20,128 | 19,826 | 20,809 | 22,704 | 20,592 |
| Operating income | 1,858 | 1,483 | 1,827 | 1,477 | 1,429 | 1,370 | 1,851 | 1,372 |
| Net income | 1,010 | 812 | 1,060 | 840 | 815 | 786 | 1,097 | 751 |
| EPS, diluted | 0.90 | 0.72 | 0.90 | 0.75 | 0.70 | 0.67 | 0.93 | 0.63 |
What this means. Free cash flow is the cash left after also paying lease costs and interest on borrowed money, not just after buying equipment and buildings.
What should I watch in DHL's next results?
DHL is due to publish its full third-quarter report on November 5, 2026. Investors should look beyond headline profit to Express’s shipment weight, prices and costs. The group needs a little over €1.955 billion of fourth-quarter EBIT to exceed its annual threshold, based on first-half and preliminary third-quarter results.
Management plans to review its medium-term guidance in March 2027. A higher target will be more convincing if profits and returns hold after the air-capacity benefit fades. Supply Chain offers another way to test that quality of growth.