Hub Group Files Form 12b-25 and Provides First Quarter 2026 Business Update

Hub Group Files Form 12b-25 and Provides First Quarter 2026 Business Update

OAK BROOK, Ill., May 12, 2026 (GLOBE NEWSWIRE) - Hub Group, Inc. (Nasdaq: HUBG) today announced that it has filed a Notification of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission ("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 ("Nasdaq") 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.

First Quarter 2026 Business Performance
In the first quarter of 2026, the Company saw Intermodal volume performance reflecting steady demand with the pricing outlook continuing to improve as a result of truckload capacity exiting the market, strong rail service levels as well as recent increases in fuel prices. In Logistics, the Company continued to onboard significant new business during the quarter, in particular in Managed Transportation and Final Mile. Finally, Brokerage volume declined in the quarter reflecting the Company's focus on improving profitability and expanding revenue per load. The Company continues to take actions to drive growth, improve profitability and increase operating cash flows, which along with its balance sheet strength and strong service positions Hub Group well for long-term growth.

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 business performance for the first quarter of 2026, Hub Group's pricing outlook, the effect of Hub Group's actions to drive growth, improve profitability, expand revenue per load and increase operating cash flows, the expected impact of the financial statement restatements on total cash and cash equivalents and operating cash flows, 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 Form 10-Q for the quarterly period ended March 31, 2026, Hub Group's plans to regain compliance with Nasdaq's listing rules, 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; the impact that 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, [email protected]