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Hub Group has received a delinquency notice from Nasdaq for failing to file its full-year 2025 financial results by the March 2 deadline, the company announced on March 24.  

The company said in a regulatory filing it required additional time to file its 2025 end-of-year financials because it was also reviewing its quarterly earnings filings from the past year, which may have been “misstated.” The company announced last month it had discovered a $77 million accounting error, which led to understatement of purchased transportation costs and accounts payable in the first nine months of 2025. 

The company has 60 calendar days from the date of the March 19 filing notice to file a plan to regain compliance with Nasdaq’s listing rules. If the plan is approved, Hub Group will have until Sept. 14 to file its Form 10-K.  

The notification from Nasdaq has no immediate effect on the company’s stock listing on the exchange, per the release. Though the accounting discrepancy has also led to a review of end-of-year financial filings for 2023 and 2024, according to the regulatory filing. 

President and CEO Phillip Yeager acknowledged in a Feb. 5 earnings call — where analysts did not participate — that the company “identified a calculation error” that delayed finalizing its Q4 and full-year 2025 results. The error also affected previously stated results for the past year and the company would restate those figures as well, he said.

“Accuracy and transparency in reporting on our performance is of the utmost importance at Hub Group, and we have taken steps to strengthen and enhance our controls,” Yeager said on the call. 

EVP, CFO and Treasurer Kevin Beth said the discovered error will increase previously reported transportation and warehousing costs for the nine months ending Sept. 30, 2025, but he did not provide estimates during the call. 

However, Beth did not expect the increase to impact the company’s total cash or operating cash flows reported at any time in 2025. 

“We are working to report our full and final financial results for 2025 as soon as possible,” he said. “We plan to include the restated quarterly financial information for Q1, Q2 and Q3 2025 in our 2025 Form 10-K.”

Hub Group reported preliminary consolidated full-year 2025 operating revenue of $3.7 billion, down from $3.9 billion a year ago.

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