DHL Group posted Q1 2026 EBIT €1.48bn, beating consensus €1.38bn, while revenue fell to €20.42bn versus €20.71bn estimate.
Express division drove profit with 20.6% YoY EBIT rise to €799m and margin expansion to 13.3% from 10.8%.
Free cash flow (ex‑M&A) surged to €1.2bn, far exceeding analyst forecast of €472m, indicating strong cash generation.
DHL reaffirmed FY2026 guidance of EBIT above €6.2bn and free cash flow around €3bn despite revenue shortfalls and UK exclusion post‑Evri merger.