Hub Group Anticipates Nasdaq Delisting Notice Due to Financial Reporting Delays
Hub Group (NASDAQ: HUBG) announced it is likely to receive a delisting notice from Nasdaq due to delays in submitting financial reports, which were caused by an accounting error identified earlier this year. The company missed its reporting deadline and plans to request a hearing with the Nasdaq Hearings Panel to maintain its listing status while seeking additional time for compliance. Hub Group expects trading of its shares will continue during the delisting review process. The firm previously disclosed in February that it had understated purchased transportation expenses by $77 million across three quarters of 2025 and is restating financial results from 2023 through Q3 2025. It aims to complete these filings in its fourth quarter. Hub Group also announced leadership changes, including Dave Yeager returning as chairman and CEO while Patrick O'Donnell will become CFO after the restatement process concludes. The company lowered its full-year revenue guidance for 2026 due to higher operating costs and excess capacity affecting logistics performance. It expects an operating loss in H1 of 2026 before one-time charges, with first-half revenues projected between $1.7 billion and $1.8 billion.
Tickers: $HUBG
Topics: accounting error financial reporting Nasdaq delisting