Based on preliminary financial results, revenue trends through the first half of 2026 have been near Company expectations, with consolidated operating revenue expected to be in the range of $1.70 billion to $1.80 billion. However, operating results during the first half of 2026 were negatively impacted by increased costs in fuel, rail and drayage, which negatively impacted Intermodal and Transportation Solutions ("ITS") segment results, while excess capacity in Consolidation and Fulfillment negatively impacted Logistics segment results. Additionally, operating results were negatively impacted by incremental costs related to the accounting review and restatement work. The Company is not providing a range of operating income or loss due to ongoing financial closing procedures but does anticipate reporting an operating loss for the first half of 2026 before the impact of one-time charges.

In addition to its previously communicated cost reduction program, beginning in the second quarter of 2026 the Company initiated a new efficiency program with incremental initiatives focused on yield management across all services, consolidation of warehousing space, productivity enhancements with drivers and warehouse team members, targeted cost reductions and enhanced order to cash processes.

ITS revenue performance benefited from relatively stable volume trends and tightening market capacity conditions during the first half of 2026 that supported over-the-road conversion opportunities and pricing momentum, while segment operating results for the same period were negatively impacted by higher fuel, rail and drayage costs incurred prior to rate increases implemented beginning in the third quarter of 2026.

Logistics revenue performance benefitted from new business for Final Mile, while Managed Transportation experienced modest revenue declines due to lower customer activity in the first half of 2026. Brokerage revenue and volume declined as the Company focused on improving profitability, and Consolidation and Fulfillment revenue was negatively impacted by select customer attrition compared to the prior year period. The Company expects Logistics segment operating results in the first half of 2026 will be negatively impacted by pressures resulting from excess capacity in Consolidation and Fulfillment.

As of June 30, 2026, Hub Group had cash and cash equivalents of approximately $132 million and restricted cash of approximately $28 million. Debt at June 30, 2026 totaled approximately $198 million, which after giving effect to cash and cash equivalents of approximately $132 million, resulted in net debt of approximately $66 million. Capital expenditures for the six months ended June 30, 2026 are estimated to be approximately $12 million including investments in equipment and technology. In August 2026, the Company borrowed $75 million under its $450 million revolving credit facility.