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  4. [8-K] Hub Group, Inc. Reports Material Event

Hub Group expects 1H loss, Nasdaq delisting notice

Hub Group posts preliminary 2026 results, extends credit deadlines amid restatement delays, faces potential Nasdaq delisting review, and reshapes its top leadership team.

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Hub Group, Inc. (HUBG) disclosed preliminary first-half 2026 results, credit agreement changes, governance moves and a Nasdaq listing update. For the first half of 2026, consolidated operating revenue is expected to be $1.70–$1.80 billion, with higher fuel, rail and drayage costs and excess logistics capacity leading to an anticipated operating loss before one-time charges.

The company estimates full-year 2026 revenue of $3.6–$3.8 billion and capital expenditures of $40–$50 million. As of June 30, 2026, cash and cash equivalents were about $132 million, restricted cash $28 million, debt $198 million and net debt roughly $66 million; capital spending in the first half was about $12 million, and $75 million was drawn on a $450 million revolver.

A September 11, 2026 amendment to the revolving credit agreement extends the deadline to deliver 2025 audited and 2026 quarterly financials to November 30, 2026 and allows add-backs of restatement-related costs in EBITDA for covenant purposes. Hub Group continues an extensive financial restatement and expects to complete delayed filings in the fourth quarter of 2026. Because Nasdaq’s prior exception window ends September 14, 2026, the company expects a Staff Delisting Determination but plans to request a hearing, during which it expects Class A shares to continue trading and will present a plan to regain listing compliance. Leadership changes include David Yeager returning as Chairman and CEO, Patrick O’Donnell becoming CFO following the 2025 Form 10‑K filing, and enhanced consulting terms for interim CFO Todd Heeter.

Positive

  • Preliminary 1H 2026 revenue of $1.70–$1.80 billion and full-year 2026 revenue outlook of $3.6–$3.8 billion indicate ongoing business volume despite operational and restatement headwinds.
  • As of June 30, 2026 Hub Group reported $132 million in cash and cash equivalents versus $198 million of debt, for net debt of about $66 million, suggesting a moderate leverage position.
  • The amended credit agreement extends financial statement delivery deadlines to November 30, 2026 and permits EBITDA add-backs for restatement-related costs, providing covenant flexibility.
  • Hub Group has launched cost reduction and efficiency programs targeting yield management, warehousing consolidation, productivity and order-to-cash processes, aiming to improve profitability and cash flows.
  • Leadership changes add experienced executives: founder-family leader David Yeager returns as Chairman and CEO, and Patrick O’Donnell, an experienced public-company finance executive, is designated as the next CFO.

Negative

  • Management expects to report an operating loss for the first half of 2026 (before one-time charges), driven by higher fuel, rail and drayage costs, logistics overcapacity and restatement-related expenses.
  • Hub Group is engaged in a significant restatement of prior financial statements and has delayed filing its 2025 Form 10‑K and certain 2026 Form 10‑Qs, creating extended financial reporting uncertainty.
  • Because Nasdaq’s earlier exception period has expired, the company expects a Staff Delisting Determination for non-compliance with listing requirements, although it plans to appeal and seek continued trading.
  • Incremental costs associated with the accounting review, restatement work and enhanced interim CFO consulting and retention arrangements add additional expense pressure during a period of weaker operating results.

Insights

Analyzing...

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
1H 2026 consolidated operating revenue $1.70–$1.80 billion Preliminary range for the first half of 2026
Full-year 2026 revenue outlook $3.6–$3.8 billion Estimated consolidated operating revenue for 2026
Cash and cash equivalents $132 million Balance as of June 30, 2026
Debt and net debt $198 million debt; $66 million net debt As of June 30, 2026, net debt after cash and cash equivalents
Restricted cash $28 million As of June 30, 2026
Capital expenditures 1H 2026 $12 million Estimated capex for six months ended June 30, 2026
Full-year 2026 capex outlook $40–$50 million Estimated capital expenditures for 2026
Revolver borrowing and capacity $75 million drawn of $450 million facility Borrowing in August 2026 under revolving credit facility
EBITDA financial
"the definition of “EBITDA” ... was amended to include an add-back"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
net debt financial
"resulted in net debt of approximately $66 million"
Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.
revolving credit facility financial
"borrowed $75 million under its $450 million revolving credit facility"
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
restatement financial
"ongoing restatement process and the preparation and review"
A restatement is a company’s formal correction of previously released financial reports when errors or omissions are discovered, similar to fixing a report card after finding mistakes in the scores. It matters to investors because it can change past performance figures, alter valuation or earnings trends, and signal weaknesses in accounting controls or management oversight, which may affect confidence and the stock’s perceived risk.
Nasdaq Listing Rule 5250(c)(1) regulatory
"regain compliance with Nasdaq Listing Rule 5250(c)(1)"
Nasdaq Listing Rule 5250(c)(1) requires companies listed on the Nasdaq stock exchange to promptly notify the exchange if their stock price falls below a certain minimum level, known as the "initial listing standards." This rule helps ensure that investors are aware of significant declines in a company's stock value, which could signal financial trouble or increased risk. Essentially, it helps maintain transparency and protect investors by keeping them informed about important changes in a company's stock performance.
Staff Delisting Determination regulatory
"expects to receive a Staff Delisting Determination letter"
A staff delisting determination is a formal finding by exchange or regulatory staff that a listed security no longer meets the rules required to stay listed, similar to an official notice that a rental property no longer qualifies for occupancy. It matters to investors because it often precedes removal from the exchange, which can sharply reduce a stock’s visibility, trading liquidity and value, and may trigger urgent choices like selling, appealing the decision or seeking alternative markets.
1H 2026 consolidated operating revenue $1.70–$1.80 billion
FY 2026 consolidated operating revenue outlook $3.6–$3.8 billion
Cash and cash equivalents as of June 30, 2026 $132 million
Debt and net debt as of June 30, 2026 $198 million debt; $66 million net debt
Capital expenditures 1H 2026 $12 million
FY 2026 capital expenditures outlook $40–$50 million
Guidance

Hub Group provided 2026 guidance for consolidated operating revenue of $3.6–$3.8 billion and capital expenditures of $40–$50 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What preliminary 2026 revenue did Hub Group (HUBG) report for the first half of 2026?
Hub Group expects consolidated operating revenue for the first half of 2026 to be in the range of $1.70 billion to $1.80 billion, reflecting revenue trends that management states have been near company expectations.

What full-year 2026 outlook did Hub Group (HUBG) provide for revenue and capital expenditures?
For full year 2026, Hub Group estimates consolidated operating revenue of approximately $3.6–$3.8 billion and capital expenditures of about $40–$50 million, following estimated first-half 2026 capital spending of roughly $12 million.

What is Hub Group’s (HUBG) liquidity and net debt position as of June 30, 2026?
As of June 30, 2026, Hub Group had $132 million in cash and cash equivalents, $28 million in restricted cash and $198 million of debt, resulting in net debt of about $66 million after offsetting cash and cash equivalents.

How did Hub Group (HUBG) amend its revolving credit agreement in September 2026?
On September 11, 2026, Hub Group amended its revolving credit agreement to extend the deadline to deliver 2025 audited and certain 2026 quarterly financial statements to November 30, 2026, and to allow restatement-related costs to be added back to EBITDA for covenant calculations.

What Nasdaq listing issues does Hub Group (HUBG) currently face?
Nasdaq had granted Hub Group an exception through September 14, 2026 to regain filing compliance. The company now expects a Staff Delisting Determination but intends to request a hearing, which it expects will allow its Class A shares to continue trading during the hearing process.

What leadership changes did Hub Group (HUBG) announce in this 8-K?
Executive Chairman David Yeager is returning as Chairman and Chief Executive Officer, Phillip Yeager continues as President and Vice Chairman, and Patrick O’Donnell has been appointed Chief Financial Officer, effective after the filing of the 2025 Form 10‑K, with Todd Heeter remaining interim CFO until then.

What compensation terms did Hub Group (HUBG) disclose for its incoming CFO Patrick O’Donnell?
Patrick O’Donnell will receive a $650,000 annual salary, a target bonus equal to 80% of salary (pro‑rated in year one), a one-time restricted stock grant of about $1.3 million vesting over three years, and a target annual long-term incentive of about $1 million split between time- and performance-based stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false 0000940942 0000940942 2026-09-11 2026-09-11
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 11, 2026

 

 

HUB GROUP, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   0-27754   36-4007085
(State or other jurisdiction
of incorporation)		  

(Commission

File Number)

   (I.R.S. Employer
Identification No.)

 

2001 Hub Group Way

Oak Brook, Illinois

   60523
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (630) 271-3600

NOT APPLICABLE

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange
on which registered

Class A Common Stock   HUBG   NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 

Item 1.01.

Entry into a Material Definitive Agreement.

On September 11, 2026, Hub Group, Inc. (the “Company”) entered into a Third Amendment to Credit Agreement (the “Amendment”), which amended that certain Credit Agreement, dated as of June 20, 2025 (the “Credit Agreement”), among the Company, the guarantors party thereto, the lenders party thereto and Bank of Montreal, as administrative agent. Pursuant to the Amendment, (i) the deadline for the Company to deliver its unaudited financial statements for the quarters ended March 31, 2026, June 30, 2026 and September 30, 2026 and its audited financial statements for the year ended December 31, 2025 was extended to November 30, 2026, and (ii) the definition of “EBITDA” (as defined in the Credit Agreement) was amended to include an add-back for expenses incurred on or prior to December 31, 2026 in connection with the events and circumstances disclosed in the Company’s Current Reports on Form 8-K filed with the Securities and Exchange Commission on February 5, 2026 and May 12, 2026 or otherwise related to the Company’s restatement of its financial statements for the years ended December 31, 2024 and 2023.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 2.02.

Results of Operations and Financial Condition.

On September 14, 2026, the Company issued a press release announcing, among other things, certain preliminary results for the first and second quarter of 2026. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K, and the preliminary results contained therein for such quarters are incorporated herein by reference.

The information furnished in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act.

 

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Chief Executive Officer

On September 13, 2026, the Board of Directors (the “Board”) of the Company appointed David P. Yeager as Chairman and Chief Executive Officer of the Company, effective immediately. Mr. David Yeager, age 73, served as Executive Chairman from January 2023 until his current appointment and previously served as Chief Executive Officer from March 1995 to December 2022. Phillip D. Yeager will continue to serve as President and Vice Chairman of the Company.

Mr. David Yeager is the father of Mr. Phillip Yeager. Matthew Yeager, the son of Mr. David Yeager, is an employee of the Company and currently serves as Executive Vice President, Procurement. Mr. Matthew Yeager’s base salary was $375,000 for 2025 and is $386,250 for 2026. He received restricted stock awards having a grant date fair value of $300,003 and $300,020 in 2025 and 2026, respectively, and, for the year ended December 31, 2025, received other benefits in the ordinary course totaling $10,750. Additionally, in July 2026, Mr. Matthew Yeager received a cash retention payment in the amount of $54,075.

There are no arrangements or understandings between Mr. David Yeager and any other person pursuant to which Mr. David Yeager was appointed to serve as Chief Executive Officer of the Company.

Appointment of Chief Financial Officer-Elect

On September 13, 2026, the Board appointed Patrick O’Donnell as Chief Financial Officer and Treasurer of the Company, effective following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Effective Date”). Prior to the Effective Date, Todd Heeter will continue to serve as Chief Financial Officer and Treasurer of the Company, and Mr. O’Donnell will serve as a non-executive employee of the Company.

 

In connection with his appointment, the Company and Mr. O’Donnell entered into an offer letter, dated September 14, 2026 (the “Offer Letter”). The Offer Letter provides that Mr. O’Donnell will receive an annual salary of $650,000 and a performance-based target bonus equal to 80% of his annual salary, pro-rated for his first year of employment. After assuming the role of Chief Financial Officer, Mr. O’Donnell will receive a one-time grant of restricted stock with an approximate value of $1,300,000 that vests ratably, once per year, over a three-year period. In addition, on or about January 2, 2027, Mr. O’Donnell will be eligible to receive an annual long-term incentive award with a total target value of approximately $1,000,000, fifty percent (50%) of which will consist of time-based restricted stock that vests ratably, once per year, over a five-year period, with the remaining fifty percent (50%) consisting of performance based restricted stock vesting on the third anniversary of the grant date subject to the Company’s achievement of one or more performance metrics established by the Compensation Committee over a three-year performance period. Each of the grants is subject to the terms of the Company’s long-term incentive plan, including Mr. O’Donnell’s continued employment with the Company.

The foregoing description of the Offer Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the Offer Letter, a copy of which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.

Mr. O’Donnell, age 47, served as Executive Vice President, Chief Financial Officer of TreeHouse Foods, Inc., a private brands snacking and beverage manufacturer (“TreeHouse”), from April 2023 to February 2026. Prior to that, Mr. O’Donnell held various leadership roles within the finance department at TreeHouse, including as Chief Accounting Officer from June 2022 to April 2023, Vice President and Corporate Controller from April 2020 to June 2022 and Head of Corporate FP&A from March 2019 to April 2020. Prior to joining TreeHouse, Mr. O’Donnell spent over 14 years at PricewaterhouseCoopers in roles across the audit and assurance division. He holds a bachelor’s degree in accounting from Marquette University.

Mr. O’Donnell does not have any family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. The Company is not aware of any related party transactions or relationships between Mr. O’Donnell and the Company that would require disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. O’Donnell and any other person pursuant to which Mr. O’Donnell was appointed as an officer of the Company.

Amendment to Interim CFO Consulting Agreement

On September 14, 2026, the Company entered into a letter agreement (the “Letter Agreement”), which amends the Consulting Agreement, dated as of May 27, 2026 (the “Consulting Agreement”), with The Heeter Group, LLC (the “Consultant”) and Todd Heeter pursuant to which Mr. Heeter is providing services to the Company as interim Chief Financial Officer and Treasurer. The Letter Agreement extends the term (“Term”) of the Consulting Agreement to April 30, 2027 and, effective December 1, 2026, increases the monthly cash consulting fee payable to Consultant thereunder to $175,000.

Additionally, the Letter Agreement provides that the Consultant will be entitled to receive a cash retention bonus of $1,250,000, payable after the Company files its Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”), provided that, except as set forth therein, the 2025 Form 10-K is filed on or before December 31, 2026 and Mr. Heeter, in his capacity as interim Chief Financial Officer, continues to provide services to the Company through the filing date of the 2025 Form 10-K and has executed any required representations, certifications, acknowledgements or similar documents in connection with the filing of the 2025 Form 10-K. The Letter Agreement further provides that, except as set forth therein, if, before the end of the Term, (i) the Company terminates the Consultant’s services other than for “Cause” (as defined in the Consulting Agreement) or (ii) the 2025 Form 10-K and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026 are filed on or before December 31, 2026 and the Consultant voluntarily terminates the Consultant’s services at any time after such reports have been filed (whether such termination occurs before or after December 31, 2026), the Consultant will be entitled to a cash termination payment in an amount equal to the sum of $175,000 for each full calendar month remaining in the Term, plus a pro-rata portion of the $175,000 monthly consulting fee for the calendar month in which any such termination occurs.

 

The Letter Agreement requires the Company to provide the Consultant and Mr. Heeter with certain indemnification and insurance coverage and also requires the Company to reimburse the Consultant’s and Mr. Heeter’s attorney fees and related costs and expenses, up to a maximum of $45,000, in connection with the negotiation and finalization of the Consulting Agreement and the Letter Agreement.

The foregoing description of the Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Letter Agreement, a copy of which is filed as Exhibit 10.3 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 7.01.

Regulation FD Disclosure.

On September 14, 2026, the Company issued a press release announcing the executive officer changes described in Item 5.02 of this Current Report on Form 8-K. The press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

The information furnished in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.2 attached hereto shall not be deemed to be filed for the purposes of Section 18 of the Exchange Act or otherwise subject to liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act and shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act.

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit No.

   

Description

10.1    Third Amendment to Credit Agreement, dated as of September 11, 2026, among the Company, the guarantors signatory thereto, the required lenders signatory thereto and Bank of Montreal, as administrative agent.
10.2    Offer Letter, dated September 14, 2026.
10.3    Letter Agreement, dated as of September 14, 2026, amending that certain Consulting Agreement, dated as of May 27, 2026, by and among The Heeter Group, LLC, Todd Heeter and Hub Group, Inc.
99.1    Press release (including certain preliminary financial results) issued on September 14, 2026.
99.2    Press release (announcing certain leadership changes) issued on September 14, 2026.
104    The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    Hub Group, Inc.
Date: September 15, 2026    
    By:  

/s/ Eric A. Braun

    Name:   Eric A. Braun
    Title:   Executive Vice President, Chief Legal Officer and Corporate Secretary

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 the first and second quarters of 2026 and provided an update on the Company’s previously disclosed accounting review and ongoing restatement process.

David Yeager, Hub Group’s Chairman and Chief Executive Officer said, “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.”

“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,” said Phil Yeager, Hub Group’s President and Vice Chairman.

Preliminary First and Second Quarter 2026 Financial Results

The preliminary financial results presented below, including comparisons to prior year periods, reflect management’s current estimates based on information available as of the date of this release. These results are unaudited and remain subject to the completion of the restatement of the Company’s previously issued financial statements as well as the Company’s financial closing procedures and the preparation and review of its consolidated financial statements and related disclosures for fiscal year 2025 and for the first and second quarters of 2026. Accordingly, the Company’s final results may differ from the preliminary estimates presented below.

Based on preliminary financial results, revenue trends through the first half of 2026 have been near Company expectations, with consolidated operating revenue expected to be in the range of $1.70 billion to $1.80 billion. However, operating results during the first half of 2026 were negatively impacted by increased costs in fuel, rail and drayage, which negatively impacted Intermodal and Transportation Solutions (“ITS”) segment results, while excess capacity in Consolidation and Fulfillment negatively impacted Logistics segment results. Additionally, operating results were negatively impacted by incremental costs related to the accounting review and restatement work. The Company is not providing a range of operating income or loss due to ongoing financial closing procedures but does anticipate reporting an operating loss for the first half of 2026 before the impact of one-time charges.

In addition to its previously communicated cost reduction program, beginning in the second quarter of 2026 the Company initiated a new efficiency program with incremental initiatives focused on yield management across all services, consolidation of warehousing space, productivity enhancements with drivers and warehouse team members, targeted cost reductions and enhanced order to cash processes.

ITS revenue performance benefited from relatively stable volume trends and tightening market capacity conditions during the first half of 2026 that supported over-the-road conversion opportunities and pricing momentum, while segment operating results for the same period were negatively impacted by higher fuel, rail and drayage costs incurred prior to rate increases implemented beginning in the third quarter of 2026.

Logistics revenue performance benefitted from new business for Final Mile, while 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, and Consolidation and Fulfillment revenue was negatively impacted by select customer attrition compared to the prior year period. The Company expects Logistics segment operating results in the first half of 2026 will be negatively impacted by pressures resulting from excess capacity in Consolidation and Fulfillment.

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 June 30, 2026 totaled approximately $198 million, which after giving effect to cash and cash equivalents of approximately $132 million, resulted 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.

Full Year 2026 Outlook

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

Credit Agreement Amendment

On September 11, 2026, the Company amended its revolving credit agreement. The amendment extends the deadline for delivery to the lenders of the Company’s audited annual financial statements for the year ended December 31, 2025 and its unaudited quarterly financial statements for the quarterly periods ended March 31, 2026, June 30, 2026 and September 30, 2026 to November 30, 2026. The amendment also provides that costs and expenses incurred on or prior to December 31, 2026 in connection with the accounting review and restatement process may be added back in the calculation of EBITDA for purposes of the Company’s financial covenants.

Restatement and Financial Reporting Update

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, which have not been previously issued, and restated results for the fiscal 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.

The Nasdaq Stock Market LLC (“Nasdaq”) granted the Company an exception through September 14, 2026 to file its 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 with the Securities and Exchange Commission and regain compliance with Nasdaq Listing Rule 5250(c)(1). The Company has determined that it needs additional time to complete the restatements and related audits of its financial statements and expects to complete such filings in the fourth quarter of 2026.

As a result, the Company expects to receive a Staff Delisting Determination letter from the Listing Qualifications Department of Nasdaq notifying the Company that its Class A common stock will be delisted. Importantly, receipt of this notification will not immediately result in the suspension of trading or delisting of the Company’s Class A common stock. The Company intends to timely request a hearing before the Nasdaq Hearings Panel to appeal the determination within seven calendar days from receipt of any determination. The submission of this request would automatically stay any suspension or

delisting action for 15 calendar days from the date of the request. It is further anticipated that in connection with the request for a hearing, the Company will seek a further stay of any suspension or delisting action pending the hearing process. Hearings are typically scheduled to occur approximately 30 to 45 days after the date of a company’s hearing request. While there can be no assurances, the Company expects that the Company’s Class A common stock will continue to trade on the Nasdaq Global Select Market during the hearing process. In addition, the Company expects to present to the Nasdaq Hearings Panel a compelling plan to regain full compliance with Nasdaq’s continued listing requirements and to secure sufficient time to execute such plan.

Preliminary Financial Results

The financial results for the first and second quarters of 2026 contained in this press release are preliminary and unaudited and represent management’s estimates based on information available as of the date of this release. The Company has not completed the restatement of its previously issued financial statements, nor its financial closing procedures for the periods presented, and the preliminary financial results are subject to adjustments that may result from the completion of those procedures, the ongoing restatement process and the preparation and review of the Company’s consolidated financial statements and related disclosures.

The preliminary financial results presented in this release are not a comprehensive statement of the Company’s financial results for the periods presented and should not be viewed as a substitute for complete financial statements prepared in accordance with accounting principles generally accepted in the United States. The Company’s actual results may differ materially from these preliminary estimates, and additional adjustments may be identified as the Company completes its financial reporting and restatement processes.

Certain Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements, provided pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995, including statements regarding Hub Group’s expectations of its financial results and business performance for the first half of 2026 and first and second quarters of 2026, the effect of Hub Group’s actions to drive growth, profitability and operating cash flows, improve yield, and enhance efficiency, Hub Group’s growth potential, the timing of the restatement of the Company’s financial statements for the impacted periods and the filing of 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, the Company’s estimated consolidated revenue and capital expenditures for full year 2026, the outcome of the Company’s anticipated request to Nasdaq for a stay from the suspension and delisting of its Class A common stock and its appeal to the Nasdaq Hearings Panel, and any other statements regarding Hub Group’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts.

These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that might cause the actual performance of Hub Group to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the Company’s ability to complete the previously-announced restatement of its financial statements and regain compliance with Nasdaq’s listing rules; unanticipated delays that prevent the filing of the Company’s delinquent periodic reports in the fourth quarter of 2026; the impact that the restatement process and further delays in the financial close process or the related audit may have on Hub Group’s business, financial condition and results of

operations; the risk that the Company’s request to Nasdaq for a stay from suspension or delisting will not be granted or that its plan to regain compliance with Nasdaq’s continued listing requirements will not be accepted by the Nasdaq Hearing Panel or, if accepted, will not allow for sufficient time for the Company to regain compliance, the Company’s ability to maintain compliance with the covenants in its revolving credit agreement, and other risks discussed under the “Risk Factors” section in Hub Group’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings.

These forward-looking statements speak only as of the date hereof and Hub Group assumes no obligation to update any such forward-looking statements.

About Hub Group

Hub Group offers comprehensive transportation and logistics management solutions. Keeping our customers’ needs in focus, Hub Group designs, continually optimizes, and applies industry-leading technology to our customers’ supply chains for better service, greater efficiency, and total visibility. As an award-winning, publicly traded company (Nasdaq: HUBG), our approximately 6,000 employees and drivers across the globe are always in pursuit of “The Way Ahead” – a commitment to service, integrity and innovation. For more information, visit hubgroup.com.

CONTACT: Garrett Holland, InvestorRelations@hubgroup.com

Exhibit 99.2

Hub Group Announces Leadership Changes

David Yeager Returning to Chairman and Chief Executive Officer Role;

Phillip Yeager Continuing as President and Vice Chairman

Patrick O’Donnell Appointed as Chief Financial Officer

OAK BROOK, Ill., September 14, 2026 - Hub Group, Inc. (Nasdaq: HUBG) today announced that, effective today, Executive Chairman David Yeager is returning to the Chairman and Chief Executive Officer role, with Phillip Yeager continuing to serve as President and Vice Chairman. The Company also today announced the appointment of Patrick O’Donnell as Chief Financial Officer, effective following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

“Hub Group was founded by the Yeager family more than 55 years ago with a commitment to service, integrity and innovation,” said David Yeager, Hub Group’s Chairman and Chief Executive Officer. “I am confident that this leadership team will help drive the business forward into its next phase of growth. I look forward to partnering with Phil and Pat to deliver excellent results for our shareholders, customers and team members.”

“Our team remains focused on fueling the company’s success for another five decades and beyond,” said Phil Yeager, Hub Group’s President and Vice Chairman. “I look forward to working with Dave, Pat and the rest of the management team to execute on our strategy, innovate for our customers and enhance value for our shareholders.”

Patrick O’Donnell has joined Hub Group as a special advisor and Chief Financial Officer-Elect. Following the completion of the Company’s previously announced financial restatement process and the issuance of the Company’s financial statements for fiscal year 2025, Mr. O’Donnell will assume the role of Chief Financial Officer.

Todd Heeter will continue to serve as Interim Chief Financial Officer, leading efforts to complete the financial restatements.

“We are excited to have Pat join the Hub Group team as the company’s next CFO and are confident he is the right leader for our finance organization,” David Yeager added. “He brings over 20 years of experience in finance and accounting and a proven track record of strengthening financial and operating discipline, driving process improvements and building high-performing teams. Pat’s expertise across public company finance, strategic planning and capital allocation will be invaluable as we continue executing our strategy to drive growth, improve profitability and enhance cash flow generation. I also want to thank Todd for his continued leadership and support as Pat transitions into the CFO role.”

Mr. O’Donnell is an experienced public company finance and accounting executive with a robust skillset spanning financial strategy and enterprise performance, capital allocation, mergers and acquisitions and public company financial reporting. Prior to joining Hub Group, he spent over eight years in finance and accounting roles at TreeHouse Foods, most recently serving as Executive Vice President and Chief Financial Officer for three years. Previously, Mr. O’Donnell spent nearly 15 years at PricewaterhouseCoopers in roles across the audit and assurance division. He is a graduate of Marquette University.

Certain Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements, provided pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future performance and long-term growth potential, its strategy to drive growth, improve profitability and enhance cash flow generation, and any other statements regarding Hub Group’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts.

These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that might cause the actual performance of Hub Group to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include the Company’s ability to complete the previously-announced restatement of its financial statements and regain compliance with Nasdaq’s listing rules; the impact that the restatement process and further delays in the financial close process or the related audit may have on Hub Group’s business, financial condition and results of operations; and other risks discussed under the “Risk Factors” section in Hub Group’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings.

These forward-looking statements speak only as of the date hereof and Hub Group assumes no obligation to update any such forward-looking statements.

About Hub Group

Hub Group offers comprehensive transportation and logistics management solutions. Keeping our customers’ needs in focus, Hub Group designs, continually optimizes, and applies industry-leading technology to our customers’ supply chains for better service, greater efficiency, and total visibility. As an award-winning, publicly traded company (Nasdaq: HUBG), our approximately 6,000 employees and drivers across the globe are always in pursuit of “The Way Ahead” – a commitment to service, integrity and innovation. For more information, visit hubgroup.com.

CONTACT: Garrett Holland, InvestorRelations@hubgroup.com

Source: View Original Filing on SEC EDGAR

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