Hub Group Announces Q2 2026 Financial Results and Restatement Update

OAK BROOK, Ill., Sept. 14, 2026 /CourierPR/ -- Hub Group, a transportation and logistics company, has announced preliminary unaudited financial results for the first and second quarters of 2026. The company’s chairman and CEO, David Yeager, stated that the finance and accounting team remains focused on completing the restatement process and ensuring timely financial reporting. Meanwhile, the broader organization continues to serve customers, identify growth opportunities, and execute its long-term strategy.

Preliminary financial results for the first and second quarters of 2026 show that revenue trends have been near the company’s expectations, with consolidated operating revenue expected to range between $1.70 billion and $1.80 billion. However, operating results were negatively impacted by increased costs in fuel, rail, and drayage, which affected the Intermodal and Transportation Solutions (ITS) segment. The Logistics segment also experienced a decline due to excess capacity in Consolidation and Fulfillment. Additionally, the company noted that incremental costs related to the accounting review and restatement work further impacted the results.

David Yeager highlighted that the company is focused on driving growth, profitability, and operating cash flows. Phil Yeager, the President and Vice Chairman, mentioned the initiation of a new cost reduction program with initiatives aimed at improving yield and enhancing efficiencies. The company expects to provide more details on these initiatives when it reports its final full-year 2025 results and restated financials.

In the first half of 2026, the ITS segment benefited from relatively stable volume trends and tightening market capacity conditions, which supported over-the-road conversion opportunities and pricing momentum. However, segment operating results were negatively impacted by higher fuel, rail, and drayage costs incurred prior to rate increases implemented in the third quarter of 2026. The Logistics segment saw revenue performance from new business for Final Mile, while Managed Transportation experienced modest revenue declines due to lower customer activity. Brokerage revenue and volume declined as the company focused on improving profitability, and Consolidation and Fulfillment revenue was negatively impacted by select customer attrition.

As of June 30, 2026, Hub Group had cash and cash equivalents of approximately $132 million and restricted cash of approximately $28 million. Debt at the end of the period totaled approximately $198 million, resulting in net debt of approximately $66 million. Capital expenditures for the six months ended June 30, 2026, are estimated to be approximately $12 million, including investments in equipment and technology. In August 2026, the company borrowed $75 million under its $450 million revolving credit facility.

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

Hub Group continues to work on the restatement of its previously issued financial statements for the years ended December 31, 2024 and 2023, and the quarterly periods ended March 31, 2025, June 30, 2025, and September 30, 2025. The company has received an exception from the Nasdaq Stock Market LLC to file its Form 10-K for the year ended December 31, 2025, and its Forms 10-Q for the quarterly periods ended March 31, 2026, and June 30, 2026, by November 30, 2026. The company expects to complete these filings in the fourth quarter of 2026.

The company is also working to regain compliance with Nasdaq’s listing rules. It intends to request a hearing before the Nasdaq Hearings Panel to appeal the determination of delisting. The company expects its Class A common stock to continue trading on the Nasdaq Global Select Market during the hearing process and to present a plan to regain compliance with Nasdaq’s continued listing requirements.