HUBG Stock Tanks After Firm Says It Expects To Receive Nasdaq Delisting Letter — Here’s Everything To Know About Its New Leadership

Hub Group announced a leadership shake-up Monday, bringing back David Yeager as chairman and CEO, as the transportation and logistics company works to complete its financial restatement and delayed filings.

• Patrick O’Donnell has been named CFO-elect, while Todd Heeter continues as interim CFO overseeing restatement.
• The company expects a first-half operating loss due to higher fuel, rail, and drayage costs, as well as excess logistics capacity.
• Hub Group expects first-half consolidated operating revenue of $1.70 billion to $1.80 billion, broadly in line with its expectations.

Hub Group Inc. (HUBG) shares tumbled in Monday’s premarket after the company announced that it expects to receive a Staff Delisting Determination letter from Nasdaq as it needs additional time to become current with its financial reporting obligations.

The determination would not immediately suspend trading or delist the stock. The firm also clarified that it intends to request a hearing before the Nasdaq Hearings Panel to appeal the determination within seven calendar days of receipt of the determination.

Hub Group said it needs additional time to complete the restatements and related audits of its financial statements and expects to complete the filings in the fourth quarter of 2026.

HUBG’s New Leadership

At the same time, Hub Group announced a leadership shake-up Monday, bringing back David Yeager as chairman and CEO, as the transportation and logistics company works to complete its financial restatement and delayed filings. 

Meanwhile, Patrick O'Donnell has joined Hub Group as a special advisor and CFO-elect and is expected to take over as CFO after the company files its 2025 annual report on Form 10-K. Todd Heeter will remain interim CFO and continue leading the company's financial restatement efforts.

The leadership changes come as Hub Group disclosed preliminary first- and second-quarter 2026 results and warned that it expects an operating loss for the first half of the year, before one-time charges.

HUBG Expects H1 Operating Loss

Hub Group expects first-half consolidated operating revenue of $1.70 billion to $1.80 billion, broadly in line with its expectations.

The firm said that operating results were impacted by higher fuel, rail and drayage costs which weighed on its Intermodal and Transportation Solutions business, while excess capacity in its Consolidation and Fulfillment operations pressured its Logistics segment. The company also incurred incremental costs related to its ongoing accounting review and financial restatement.

Hub Group did not provide an operating loss range because its financial closing procedures are still underway.

Restatement Covers Multiple Years

Hub Group is still working to restate its 2023 and 2024 annual financial statements, as well as the first three quarters of 2025.

The company is also working to file its FY2025 10-K and Q1 and Q2 2026 10-Qs.

An amendment to its credit agreement on Sept. 11 extended the deadline for the audited FY2025 and Q1-Q3 2026 financial statements to Nov. 30, 2026.

Costs Weigh On Transportation Business

Hub Group said its Intermodal and Transportation Solutions(ITS) business saw stable volumes and tightening capacity, which helped improve over-the-road conversion opportunities and pricing momentum.

However, higher fuel, rail and drayage costs weighed on results before the company implemented rate increases in the third quarter.

In Logistics, new Final Mile business provided support, while Managed Transportation revenue declined modestly. Brokerage revenue and volumes also fell as Hub Group focused on profitability.

Consolidation and Fulfillment remained under pressure from customer attrition and excess capacity.

To improve profitability, Hub Group launched an efficiency program focused on yield management, warehouse consolidation, productivity improvements, targeted cost reductions, and improving its order-to-cash process.

FY26 Revenue Outlook At $3.6B To $3.8B

Hub Group said it estimates FY26 operating revenue outlook of $3.6 billion to $3.8 billion.

Hub Group Chairman and CEO David Yeager said the finance and accounting team remains focused on completing the restatement and bringing the company’s financial reporting up to date, while the broader business continues to serve customers, pursue growth opportunities and execute its long-term strategy.

The company expects $40 million to $50 million in capital expenditures for the year.

As of June 30, Hub Group had $132 million in cash, $28 million in restricted cash and $198 million in debt, resulting in $66 million of net debt. It also borrowed $75 million under its $450 million revolving credit facility in August.

Retail Take On HUBG Stock

On Stocktwits, retail sentiment around the stock remained in ‘neutral’ territory. 

HUBG shares have slid 18% year-to-date

For updates and corrections, email newsroom[at]stocktwits[dot]com.<