Hub Group faces potential Nasdaq delisting amid restatement delays

Hub Group, Inc. (Nasdaq: HUBG) disclosed preliminary, unaudited financial results for the first and second quarters of 2026 and provided an update on its ongoing accounting restatement process, according to a company statement.

The company reported consolidated operating revenue for the first half of 2026 in the range of $1.70 billion to $1.80 billion. Hub Group said it anticipates reporting an operating loss for the first half of 2026 before one-time charges, citing higher fuel, rail, and drayage costs in its Intermodal and Transportation Solutions segment, as well as excess capacity in its Consolidation and Fulfillment operations. Additional costs related to the accounting review and restatement process also weighed on results.

As of June 30, 2026, Hub Group held approximately $132 million in cash and cash equivalents, with total debt of approximately $198 million, resulting in net debt of approximately $66 million. The company borrowed an additional $75 million under its $450 million revolving credit facility in August 2026. Capital expenditures for the first half of 2026 are estimated at approximately $12 million.

For full year 2026, Hub Group estimates consolidated operating revenue of $3.6 billion to $3.8 billion and capital expenditures of $40 million to $50 million.

On Sept. 11, 2026, the company amended its revolving credit agreement, extending the deadline for delivering audited and unaudited financial statements to lenders to Nov. 30, 2026.

Hub Group said it expects to receive a Staff Delisting Determination letter from Nasdaq after missing a Sept. 14, 2026 deadline to file its Form 10-K for fiscal year 2025 and Forms 10-Q for the first two quarters of 2026. The company intends to request a hearing before the Nasdaq Hearings Panel within seven calendar days of receiving the notification, which would automatically stay any delisting action for 15 calendar days. The company expects its Class A common stock to continue trading during the hearing process and anticipates completing its required filings in the fourth quarter of 2026.

The restatement covers financial statements for fiscal years 2023 and 2024, as well as quarterly periods in 2025.

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