DSV, DHL or K+N: Who Really Won Q3?

Three logistics giants. Rising profits. But very different results.

DSV is bigger than ever after buying Schenker.

DHL’s forwarding profit jumped 33%.

Kuehne+Nagel also reported a strong quarter.

But cargo and profits tell different stories.

For carriers and BCOs, the answer matters for 2027.

So who really won Q3?

Here are 5️⃣ signals that matter:

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All growth rates are Q3 2026 YoY unless stated otherwise.

1️⃣ K+N Leads Ocean Freight