Hub Group Shares Fall as Financial Statements Not Reliable (1)

(Updates with shares.)

Hub Group shares sink 13% in premarket trading after the transportation provider said its audit committee concluded that the company’s audited consolidated financial statements for the years ended December 31, 2024 and 2023 were materially misstated and should no longer be relied upon.

• The determination followed a review that identified certain transactions prematurely or incorrectly recognized
• The company continued to review additional accounting issues that may further impact statements
• Expects to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for each of the years ended December 31, 2024 and 2023 ...