DHL Group

DHL: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€97.00	Cvqxxg	Gyrfscjgv

DHL Group Earnings: Global Package and Forwarding Demand Remains Pressured, but Outlook Is Stable

Matthew Young

Nov 8, 2023

Narrow-moat DHL Group’s third-quarter top line fell 15% (excluding foreign exchange) year over year, below our expected run rate on pronounced global forwarding weakness—it's been tough to spot a trough amid the industry's heavy normalization phase.

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