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HUBG News
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Hub Group Receives Nasdaq Compliance Notice
Hub Group announced that on August 20, as expected, it received a notice indicating that the company was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of its failure to timely file its Form 10-Q for the quarter ended June 30. The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC. The notice has no immediate effect on the listing or trading of the company's common stock on Nasdaq.
Hub Group Shares Drop 20% to $37.70
Shares of Hub Group are down $9.65, or 20%, to $37.70 in afternoon trading after the company earlier announced that it has filed a Notification of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission and will be delayed in filing its Form 10-Q for the quarter ended June 30. As previously disclosed, the company was unable to timely file its Form 10-K for the year ended December 31, 2025. The delay in filing the Form 10-K has resulted in a corresponding delay in the preparation and completion of the Form 10-Q for the quarter ended June 30, Hub Group stated. "Hub Group continues to work diligently to complete 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, and to file its Form 10-K for the year ended December 31, 2025, which will include results for the year ended December 31, 2025 and restated results for the years ended December 31, 2024 and 2023, as well as its Forms 10-Q for the quarterly periods ended March 31, 2026 and June 30, 2026, on or prior to September 14, 2026," the company added. In a business performance update, the company also stated: "In the first half of 2026, the company saw balanced demand trends in Intermodal and Transportation Solutions, increased opportunities for over-the-road conversion, and continued pricing momentum through bid season, offset by higher fuel, rail, and drayage costs. In Logistics, the company continued to onboard significant new business in Final Mile. Managed Transportation performed well and Brokerage volumes reflected the ongoing focus on improving profitability, while excess capacity weighed on productivity in Consolidation and Fulfillment. The company remains focused on serving customers through this dynamic environment while taking actions to drive growth, improve yield, enhance efficiency, increase operating cash flows, and improve profitability."
Hub Group Appoints Todd Heeter as Interim CFO
Hub Group announced the following changes to its leadership team. Todd Heeter has been appointed CFO and treasurer on an interim basis, effective immediately. Heeter founded The Heeter Group. Concurrent with Heeter's appointment, Kevin Beth has departed from his position as executive VP, CFO and treasurer of the company. In addition, Brian Meents has departed from his position as executive VP and COO of the company. Both Beth and Meents will be available to the company on a consulting basis for a transition period. Heeter's appointment as CFO is for an initial term of six months and may be extended at the company's election. The company has initiated a search for a permanent CFO with the assistance of a leading national search firm. At this time, the COO responsibilities will be absorbed by other senior leaders.
Hub Group Receives Nasdaq Compliance Notice
Hub Group announced that it received a notice indicating that the company was not in compliance with Nasdaq Listing Rule 5250 as a result of its failure to timely file its Form 10-Q for the quarter ended March 31. The listing rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC. The notice has no immediate effect on the listing or trading of the company's common stock on Nasdaq. As previously disclosed, Nasdaq has granted a 180-day exception period, or until September 14, 2026, for the Company to regain compliance with the Listing Rule. The company intends to regain compliance on or prior to such date.
Hub Group Delays Filing of 10-Q Form
Hub Group announced that it has filed a Notification of Late Filing on Form 12b-25 with the U.S. SEC and will be delayed in filing its Form 10-Q for the quarter ended March 31, 2026. As previously disclosed, the company was unable to timely file its Form 10-K for the year ended December 31, 2025. The delay in filing the Form 10-K has resulted in a corresponding delay in the preparation and completion of the Form 10-Q for the quarter ended March 31, 2026. The company has also determined that it will restate its financial statements as of and for each of the years ended December 31, 2024 and 2023. This determination follows a review, conducted under the direction of the Audit Committee of the Board of Directors, that identified certain transactions that were prematurely or incorrectly recognized or not adequately supported within those financial statements. There is no expected impact on total cash and cash equivalents or operating cash flow for any periods. As previously announced, the company plans to restate its financial statements for the first, second and third quarters of 2025. Investors should no longer rely on the company's previously issued financial statements for these periods. Hub Group is working diligently to complete the financial statement restatements for the impacted periods and to file its Form 10-K for the year ended December 31, 2025. The company expects to file the Form 10-Q for the quarter ended March 31, 2026 as soon as practicable after the filing of the Form 10-K. The Nasdaq Stock Market LLC has granted a 180-day exception period, or until September 14, 2026, for the company to regain compliance with Nasdaq Listing Rule 5250(c)(1), which requires all listed companies to timely file all required periodic reports with the SEC. The company intends to regain compliance on or prior to such date.
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