Hub Group warns of operating loss amid restatement
- Hub Group (NASDAQ:HUBG) expects first-half 2026 revenue of $1.70 billion to $1.80 billion but anticipates an operating loss before one-time charges.
- The company cited higher fuel, rail and drayage costs, excess capacity, and restatement-related expenses as pressure points.
- Hub Group is working with Nasdaq after delayed filings and expects to request a hearing to maintain its listing.
Hub Group (NASDAQ:HUBG) released preliminary unaudited first-half 2026 results, warning investors that the company expects to report an operating loss before one-time charges due to increased operating pressures and accounting-related expenses.
Consolidated operating revenue for the first half of 2026 is estimated between $1.70 billion and $1.80 billion.
The company cited higher fuel, rail, and drayage costs, excess capacity in its Consolidation and Fulfillment operations, and additional expenses related to its accounting restatement process as factors affecting profitability.
As of June 30, 2026, Hub Group reported approximately $132 million in cash and cash equivalents, $28 million in restricted cash, and approximately $198 million in debt.
The company’s net debt position was approximately $66 million, while capital expenditures for the first half were estimated at $12 million.
For full-year 2026, Hub Group expects revenue of $3.6 billion to $3.8 billion and capital expenditures of $40 million to $50 million.
The company amended its $450 million revolving credit facility to extend deadlines for its 2025 audited financial statements and 2026 quarterly filings to November 30, 2026.
The amendment also allows certain restatement-related costs incurred through the end of 2026 to be added back to EBITDA for covenant calculations.
Hub Group expects to receive a Nasdaq Staff Delisting Determination due to delayed filings but plans to request a hearing and additional stay while presenting a compliance plan.
The company said it intends to maintain trading of its Class A shares as it works toward resolving its filing obligations.
