Hub Group, Inc. (HUBG): auditor change — Hub Group restates Q1-Q3 2025; reports prelim FY 2025 revenue ~$3.7B vs $3.9B in 2024

Hub Group, Inc.

Non-reliance on Q1-Q3 2025 financials due to $77M understatement of purchased transportation costs and accounts payable.
Prelim FY 2025 revenue ~$3.7B; ITS segment ~$2.2B, Logistics segment ~$1.6B.
Q4 intermodal volume +1% YoY, flat revenue per load; brokerage volumes -10%, revenue per load -4%.
FY 2025 capex ~$45M; cash & restricted cash ~$140M; net debt ~$116M, down ~$50M YoY.
FY 2026 revenue guidance $3.65B-$3.95B; capex $35M-$45M; full earnings release delayed.

item 2.02 item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Hub Group, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Ernst & Young LLP

Exact text from the filing

were in each case materially misstated due to the aforementioned error and should no longer be relied upon.

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Source: SEC EDGAR

accession 0001193125-26-039396

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