Hub Group (HUBG): Filing Delays, Restatements & Accounting Review

Font: Financial Modeling Prep  • May 13, 2026

Hub Group, Inc. (NASDAQ: HUBG) Faces Filing Delays and Financial Restatements Amid Accounting Review

Earnings Delay & Expectations: Hub Group, Inc. has delayed its Q1 2026 Form 10-Q filing after previously delaying its 2025 Form 10-K. Third-party earnings trackers have listed consensus expectations around EPS of $0.28 and revenue of approximately $887.86 million, but the company’s official filing timeline is now tied to completion of its 2025 annual report and related restatements.

Accounting Review & Restatements: Hub Group’s Audit Committee review identified material accounting issues involving transactions that were prematurely or incorrectly recognized or not adequately supported. The company had already planned to restate its financial statements for the first three quarters of 2025, and it has now determined that its 2023 and 2024 annual financial statements must also be restated.

Market Reaction & Legal Scrutiny: Hub Group shares declined sharply following the latest disclosure. The May 12, 2026 announcement led to a 12.5% closing drop, while the initial February disclosure of a $77 million understatement in purchased transportation costs and accounts payable triggered an earlier, larger selloff. Several law firms, including Bleichmar Fonti & Auld, Block & Leviton, Levi & Korsinsky, and the Law Offices of Frank R. Cruz, have announced investigations into potential securities-law violations.

Hub Group, Inc. is a supply chain solutions provider offering transportation and logistics management services. The company filed a Notification of Late Filing on Form 12b-25 with the SEC and said it will be delayed in filing its Form 10-Q for the quarter ended March 31, 2026. The delay follows the company’s inability to timely file its 2025 Form 10-K, which must be completed before the Q1 2026 filing can be finalized.

The company said the Audit Committee’s review found transactions in prior financial statements that were prematurely or incorrectly recognized or lacked adequate support. As a result, Hub Group will restate its financial statements for 2023 and 2024, in addition to its previously announced restatement of the first three quarters of 2025. The company said investors should no longer rely on the previously issued financial statements for those affected periods.

The accounting issue was first disclosed in February 2026, when Hub Group said it had identified a $77 million understatement of purchased transportation costs and accounts payable for the first nine months of 2025. The company said the issue was not expected to affect total cash, cash equivalents, or operating cash flows for any period.

The delay has also created a Nasdaq compliance issue. Hub Group received a Nasdaq deficiency notice in March after failing to file its 2025 Form 10-K on time. Nasdaq has granted the company a 180-day exception period, until September 14, 2026, to regain compliance with Nasdaq Listing Rule 5250(c)(1).

Following the May 12 disclosure, Hub Group’s stock fell $5.24, or 12.5%, to close at $36.62 per share, according to the Law Offices of Frank R. Cruz. The February disclosure had already triggered a significant selloff, with BFA stating that shares dropped over 24% during trading on February 6.

Despite the accounting and reporting issues, Hub Group’s balance-sheet metrics still show relatively low leverage. StockAnalysis lists the company with a trailing P/E ratio of 21.82, a P/S ratio of 0.62, a current ratio of 1.47, and a debt/equity ratio of 0.28. However, these metrics should be interpreted cautiously until the restatements are completed and updated financial statements are filed.