DHL group reported results. In Q2 it generated revenues of EUR 20.09 billion, down 16.4% yoy. Net profit of EUR 978 million, down 33% yoy. I expected a decline, but was surprised to see that net profit actually fell by more than 30%. The biggest impact on the result was the 40.7% drop in sales in the global shipments and freight segment.
Wow, that's quite a descent...
I see they own Czech PPL, I didn't know that. The drop is really big. Maybe it was a bit expected because of the cooling compared to the covid, but still...
The stock is obviously reacting a lot to this. They've been pretty high for a company that has these results. At least they're getting closer to a more attractive valuation :)
A 33% year-over-year drop in net income is quite a lot. I see the stock is down 4% today, but for the year it's up over 20%, which is quite nice.