Hub Group, Inc. (HUBG): Results of Operations and Financial Condition
Hub Group, Inc. (HUBG) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Hub Group Announces Select Preliminary First and Second Quarter 2026 Financial Results and Provides Update on Restatement Process OAK BROOK, Ill., September 14, 2026 - Hub Group, Inc. (Nasdaq: HUBG) today announced select preliminary, unaudited financial results for
How this was made
The 30-second read
Why it matters
The guidance sets a revenue range that investors will compare to consensus estimates; the credit‑agreement amendment may ease covenant concerns.
Market read
First‑hand disclosure of Hub Group's interim performance and outlook, offering traders fresh data for valuation and risk assessment.
What to watch
The ongoing restatement process and potential Nasdaq delisting risk may weigh on valuation more than the guidance numbers.
Hub Group Announces Select Preliminary First and Second Quarter 2026 Financial Results and Provides Update on Restatement Process
Preliminary first-half revenue was described as near Company expectations, but Hub Group expects an operating loss before one-time charges, cited cost pressure across ITS and Logistics, remains in a financial restatement process, and expects a Nasdaq delisting determination.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Consolidated operating revenue, first half of 2026other | $1.70 billion to $1.80 billion | – | – |
| Cash and cash equivalents, as of June 30, 2026other | approximately $132 million | – | – |
| Restricted cash, as of June 30, 2026other | approximately $28 million | – | – |
| Debt, as of June 30, 2026other | approximately $198 million | – | – |
| Net debt, as of June 30, 2026other | approximately $66 million | – | – |
| Capital expenditures, six months ended June 30, 2026other | approximately $12 million | – | – |
| Borrowing under revolving credit facility, August 2026other | $75 million | – | – |
full year 2026 outlook
- Revenueapproximately $3.6 to $3.8 billion
- NoteCapital expenditures of approximately $40 million to $50 million.
What drove it
- ITS revenue performance benefited from relatively stable volume trends and tightening market capacity conditions that supported over-the-road conversion opportunities and pricing momentum.
- ITS operating results were negatively impacted by higher fuel, rail and drayage costs incurred before rate increases implemented beginning in the third quarter of 2026.
- Logistics revenue performance benefited from new business for Final Mile.
- Managed Transportation experienced modest revenue declines due to lower customer activity in the first half of 2026.
- Brokerage revenue and volume declined as the Company focused on improving profitability.
- Consolidation and Fulfillment revenue was negatively impacted by select customer attrition compared to the prior year period.
- Beginning in the second quarter of 2026, the Company initiated efficiency initiatives focused on yield management, warehousing-space consolidation, driver and warehouse productivity, targeted cost reductions and order-to-cash processes.
Concerns
- Hub Group anticipates reporting an operating loss for the first half of 2026 before the impact of one-time charges.
- Increased fuel, rail and drayage costs negatively affected ITS segment results.
- Excess capacity in Consolidation and Fulfillment is expected to negatively affect Logistics segment operating results in the first half of 2026.
- Operating results were negatively impacted by incremental costs related to the accounting review and restatement work.
- The preliminary results are unaudited, subject to completion of financial closing procedures and the restatement process, and may differ from final results.
- The Company expects to receive a Staff Delisting Determination letter from Nasdaq after needing additional time to complete its delinquent filings.
- The amended credit agreement permits costs and expenses incurred on or prior to December 31, 2026 in connection with the accounting review and restatement process to be added back in the calculation of EBITDA for financial covenants.
What to watch
- Completion of restatements for the years ended December 31, 2024 and 2023 and quarterly periods ended March 31, 2025, June 30, 2025 and September 30, 2025.
- Filing of the Form 10-K for the year ended December 31, 2025 and Forms 10-Q for the quarterly periods ended March 31, 2026 and June 30, 2026, which the Company expects to complete in the fourth quarter of 2026.
- The November 30, 2026 deadline under the amended revolving credit agreement for delivery of specified annual and quarterly financial statements.
- Whether third-quarter rate increases offset prior higher fuel, rail and drayage costs in ITS.
- Execution of yield management, warehouse consolidation, productivity and targeted cost-reduction initiatives.
- Nasdaq hearing and any further stay of suspension or delisting action.
Balance sheet and cash flow
- As of June 30, 2026, cash and cash equivalents were approximately $132 million.
- As of June 30, 2026, restricted cash was approximately $28 million.
- Debt at June 30, 2026 totaled approximately $198 million.
- Net debt at June 30, 2026 was 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.
Analysis
Hub Group provided only select preliminary and unaudited results for the first and second quarters of 2026, rather than a complete financial statement package. Management said consolidated operating revenue for the first half of 2026 was expected to be in the range of $1.70 billion to $1.80 billion and characterized revenue trends as near Company expectations. The filing does not provide reported first-quarter or second-quarter revenue, nor does it provide numerical prior-year comparisons or segment revenue amounts.
The operating picture was materially weaker than the revenue commentary. Hub Group anticipates an operating loss for the first half of 2026 before one-time charges, although it did not provide an operating-income or loss range because financial closing procedures remain ongoing. ITS faced higher fuel, rail and drayage costs, while Logistics faced excess capacity in Consolidation and Fulfillment. Incremental accounting-review and restatement costs also weighed on results.
Segment trends were mixed. ITS benefited from stable volumes, tightening market capacity, over-the-road conversion opportunities and pricing momentum, but cost inflation preceded rate increases that began in the third quarter of 2026. Logistics benefited from Final Mile new business, while Managed Transportation had lower customer activity, Brokerage reduced revenue and volume while pursuing improved profitability, and Consolidation and Fulfillment faced customer attrition and excess capacity. The new efficiency program launched in the second quarter targets yield, warehouse capacity, productivity, costs and order-to-cash processes.
Liquidity included approximately $132 million of cash and cash equivalents, approximately $28 million of restricted cash, approximately $198 million of debt and approximately $66 million of net debt as of June 30, 2026. Capital expenditures for the six months ended June 30, 2026 are estimated at approximately $12 million, and the Company borrowed $75 million under its $450 million revolving credit facility in August 2026. Full-year 2026 outlook calls for approximately $3.6 to $3.8 billion of consolidated operating revenue and approximately $40 million to $50 million of capital expenditures.
The central issue remains the restatement and reporting delay. Hub Group expects to complete delinquent filings in the fourth quarter of 2026 but expects a Nasdaq Staff Delisting Determination letter after the prior exception expired on September 14, 2026. The Company intends to request a hearing and seek a stay. Final reported results, covenant compliance, the effect of the amended credit agreement, and Nasdaq's response are therefore as important as the preliminary operating trends.
Management, verbatim
Our finance and accounting team remains highly focused on completing the restatement process and becoming current with our financial reporting obligations. At the same time, our broader organization continues to serve our customers, identify growth opportunities, invest in our business and execute against our long-term strategy.
David Yeager, Chairman and Chief Executive Officer
We are focused on driving growth, profitability and operating cash flows. Our team is executing a new cost reduction program with actions designed to improve yield and enhance efficiencies, and we look forward to providing more detail on these initiatives when we report our final full year 2025 results and restated financials.
Phil Yeager, President and Vice Chairman
Not in the filing
stated, not guessed- Reported first-quarter 2026 revenue
- Reported second-quarter 2026 revenue
- Reported first-half 2026 operating income or loss amount
- GAAP gross profit and gross margin
- GAAP operating income or loss amount
- GAAP net income or loss
- GAAP diluted earnings or loss per share
- Non-GAAP earnings metrics
- Operating cash flow
- Free cash flow
- Revenue amounts for ITS and Logistics
- Revenue amounts for Final Mile, Managed Transportation, Brokerage, and Consolidation and Fulfillment
- Segment operating-income or loss amounts
- Numerical prior-year and prior-quarter comparisons for reported metrics
- Share repurchases and dividends
- Full-year 2026 operating-income, gross-margin, operating-expense, tax-rate, EPS, or cash-flow guidance
- Prior outlook for comparison
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Hub Group announced preliminary unaudited Q1‑Q2 2026 results and updated its 2026 revenue outlook while addressing a restatement of prior years' financials.
Ticker impact
Hub Group filed an 8‑K reporting preliminary Q1‑Q2 2026 results, revenue guidance of $1.70‑$1.80 B and a full‑year outlook of $3.6‑$3.8 B, plus a credit‑agreement amendment.
Potential modest upside if revenue guidance beats market expectations; downside risk if operating loss persists.
The filing provides the first public numbers for H2 2026 and updates on debt and cash, giving traders fresh data to price the stock.
Market effects
Highlights cost pressures in intermodal logistics and may affect peers in transportation and warehousing.
U.S. logistics sector could see modest re‑rating as investors digest Hub Group's restatement and guidance.
Limited to North American logistics; no direct global macro impact.
Counterpoint
If the operating loss is larger than expected, the stock could face further pressure despite revenue guidance.
Key entities
- ExecutiveDavid Yeager
Chairman and CEO of Hub Group, provided commentary on results.
- ExecutivePhil Yeager
President and Vice Chairman, discussed cost‑reduction program.
