Reported results
- Consolidated operating revenue for the first half of 2026 expected to be in the range of $1.70 billion to $1.80 billion
- As of June 30, 2026, cash and cash equivalents were approximately $132 million with restricted cash of approximately $28 million
- Debt at June 30, 2026 totaled approximately $198 million, resulting in net debt of approximately $66 million after giving effect to cash and cash equivalents
- Capital expenditures for the six months ended June 30, 2026 estimated to be approximately $12 million
- In August 2026, the Company borrowed $75 million under its $450 million revolving credit facility
- Operating results negatively impacted by increased costs in fuel, rail and drayage in ITS segment and excess capacity in Consolidation and Fulfillment in Logistics segment
Guidance
- Full year 2026 consolidated operating revenue estimated at approximately $3.6 to $3.8 billion
- Full year 2026 capital expenditures estimated at approximately $40 million to $50 million
- Company anticipates reporting an operating loss for the first half of 2026 before the impact of one-time charges
Notes
These preliminary financial results are unaudited and subject to completion of restatement of previously issued financial statements and financial closing procedures. The Company has not completed its financial closing procedures for the periods presented. Results may differ materially from these preliminary estimates. The Company is in a restatement process for fiscal years 2024 and 2023 and quarterly periods in 2025, with filings expected in the fourth quarter of 2026. The Company expects to receive a Nasdaq Staff Delisting Determination letter and intends to request a hearing before the Nasdaq Hearings Panel.
Price and volatility reaction
The stock moved -5.1% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved +10.0 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 35.26 | 2026-09-14 |
| Close after release | 33.45 | 2026-09-15 |
| Realised move | -5.1% | close to close |
| 30d ATM IV change | +10.0 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-15 (8-K, Item 2.02). Read the original filing on sec.gov.