J P M O R G A N Europe Equity Research 07 July 2026 DHL Group First Take: 2Q26 EBIT pre-release given 20% beat (8% excl. air cargo tightness benefits); 2026 guidance raised to >€6.5bn driven by strong Express performance; +ve for shares Our Take: DHL pre-released its 2Q26 results (ahead of August 5th) given the 20% EBIT beat vs. consensus with a 2Q26A EBIT of €1.85bn (consensus €1,537mn; JPMe €1,588mn) driven by a strong Express performance driven by an underlying return to weight growth and a c.€190mn bene ...