Hub Group receives Nasdaq delisting notice, plans to appeal

Hub Group announced it received a formal delisting determination from Nasdaq due to delayed financial reports. The announcement follows a Monday update in which the company said it missed a filing deadline despite an initial 180-day extension.

The intermodal marketing company said it will appeal the decision and ask for a hearing. The hearing will automatically stay any delisting action for 15 calendar days from the date of the request, which has to be filed by Wednesday. Hub Group ( NASDAQ: HUBG ) will also request that its shares not be delisted during the hearing process, which can take 30 to 45 days to commence after the request is submitted.

“The Company intends to present to the Nasdaq Hearings Panel a compelling plan to regain full compliance with Nasdaq’s continued listing requirements,” a news release said. “While there can be no assurance, the Company expects its Class A common stock to continue trading on the Nasdaq Global Select Market during the hearing process.”

After discovering an accounting error in February, Hub Group initiated a review of its financial results for 2023, 2024 and the first three quarters of 2025. As a result of this ongoing review, the company has delayed filing its financial reports for the fourth quarter and full-year 2025, as well as the first two quarters of 2026.

The company said Monday that it plans to complete the restatement process during the fourth quarter. It also said it booked an operating loss in the 2026 first half (before one-time charges) and that Dave Yeager has returned as CEO.

Why it matters? A potential delisting highlights the severe operational and financial scrutiny Hub Group faces as it works to rectify an accounting error. Successfully appealing the decision and completing the restatements is critical for maintaining investor confidence and preserving its public listing status.

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