Logistics and Supply Chain Services Bi-Weekly Industry Events & M&A Update — September 11–25, 2026

Read the report

SlidesScroll

1 of 7

←→Full screen

BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

INDUSTRIALS › TRANSPORTATION › LOGISTICS AND SUPPLY CHAIN SERVICES

The Cycle Sells Freight While Regulated Handling Holds Its Price

This update covers the two-week period of September 11–25, 2026: what moved, what companies announced, and what changed in M&A.

September 11–25, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-25 · events and transactions from the two-week period 2026-09-11 → 2026-09-25

Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice

Sources & methodology

1

← Previous

1 / 7 · INDUSTRIALS › TRANSPORTATION › LOGISTICS AND SUPPLY CHAIN SERVICES

Next →

What each page shows

The analyst’s walkthrough of the deck, page by page.

1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   INDUSTRIALS › TRANSPORTATION › LOGISTICS AND SUPPLY CHAIN SERVICES

   Cover slide introducing the bi-weekly logistics and supply chain services update for September 11–25, 2026.

   We open this bi-weekly update on Logistics and Supply Chain Services, covering the two-week period ended September 25, 2026. Over the following pages we walk through what changed, who moved and most likely why, what transacted, and what it means for operators, buyers and advisors.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE INDUSTRIALS › TRANSPORTATION › LOGISTICS AND SUPPLY CHAIN SERVICES The Cycle Sells Freight While Regulated Handling Holds Its Price This update covers the two-week period of September 11–25, 2026: what moved, what companies announced, and what changed in M&A. September 11–25, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-25 · events and transactions from the two-week period 2026-09-11 → 2026-09-25 Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   Broad Selling Across Freight Names

   Summarizes the two-week move: broad selling across 21 covered freight names, with a -3.7% median close-to-close move against a +1.1% S&P 500 return.

   Over the two-week period, 18 of the 21 names we track fell, and the median move was -3.7% versus a +1.1% return for the S&P 500. Hub Group set the period's low at -16.7% on its own disclosure news, while Cryoport was the standout gainer at +11.9% on commercialisation momentum. No new transactions printed in the window, so the trailing record of 40 deals at a median of 8.6x EV/EBITDA remains the reference point. So what: this reads as sector-specific pressure rather than a market-wide move, and the names that held up are worth a closer look.

   Everything on this page

   THE BI-WEEKLY BOTTOM LINE Broad Selling Across Freight Names The two-week period in one page · 21 covered names, close-to-close · September 11–25, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 2 1 18 of 21 Covered Names Fell; The Median Move Was -3.7% The S&P 500 returned +1.1% over the same window. NeuraCap reads the period as sector-specific pressure rather than a market-wide move. 2 Hub Group Set the Period's Low on Its Own Disclosure News Hub Group, Inc. (HUBG) fell -16.7%. The decline followed its Sep 14 preliminary first- and second-quarter results and restatement update, alongside a filing guiding full-year revenue of $3.6-$3.8 billion. 3 Cryoport Was the Standout on the Upside Cryoport, Inc. (CYRX) rose +11.9%, one of three covered names that gained. Commentary published Sep 25 points to cell and gene therapy commercialisation momentum and a return to adjusted EBITDA profitability in 2Q26. 4 No Transactions Printed, so the Reference Points Come from the Record The trailing record carries 40 transactions at a median of 8.6x EV/EBITDA. NeuraCap's standing sector lens sits at a 7.6x CY2027E median across the universe. +11.9% Best mover — Cryoport, Inc. (CYRX) worst: HUBG -16.7% · 3 up / 18 down of 21 covered -3.7% Sector median two-week return vs S&P 500 +1.1% 2 Company filings in the window 8-K events read for driver attribution

3. 03
   PUBLIC MARKET MOVERS

   Company News Explains the Extremes; The Cycle Explains the Middle

   Shows how company-specific news explains the period's extreme moves while broader cyclical pressure explains the middle of the distribution.

   We separate the two-week period's biggest movers from the middle of the pack, using a sector-relative materiality bar of 7.6% against a sector median move of -3.7%. Hub Group and Cryoport sit outside that bar, each tied to a specific disclosure or catalyst, while most other names moved inside it on cyclical pressure alone. Where we found no recorded driver for a move, we say so rather than infer one. So what: reading the extremes against the middle helps separate company-specific risk from sector-wide drift.

   Everything on this page

   PUBLIC MARKET MOVERS Company News Explains the Extremes; The Cycle Explains the Middle Bi-Weekly moves, close-to-close · September 11–25, 2026 · sector median -3.7% · S&P 500 +1.1% · materiality bar ±7.6% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median -3.7% Hub Group, Inc. (HUBG) -16.7% Shares moved following Hub Group's Sep 14 release of select preliminary first- and second-quarter results and an update on its restatement process; the accompanying filing guided full-year revenue of $3.6-$3.8 billion. A Core-tier name can reprice quickly when the reporting record is in question, whatever the operating quality. COMPANY-SPECIFIC Cryoport, Inc. (CYRX) +11.9% The available evidence points to cell and gene therapy commercialisation momentum: a Sep 25 note cites a return to adjusted EBITDA profitability in 2Q26 and growth in Life Science Services, with the stock up 82% year to date. Validated, regulated handling earns a different quality of contract than general freight. COMPANY-SPECIFIC Werner Enterprises, Inc. (WERN) -10.2% No notable in-window news was identified that clearly explains the move. Werner Enterprises, Inc. (WERN) fell -10.2%, wider than the -3.7% median across the covered names. Discount-tier truckload shares can move on cycle sentiment with no company-specific trigger. UNEXPLAINED Pamt Corp. (PAMT) -12.1% No notable in-window news was identified that clearly explains the move. Pamt Corp. (PAMT) fell -12.1%, steeper than the -3.7% median across the covered names. Smaller truckload names tend to carry the full swing of the freight cycle. UNEXPLAINED

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   Companies Bought Throughput and Backed Rail Consolidation While Freight Sold Off

   Highlights the period's highest-impact company announcements, including throughput purchases and rail consolidation support, against a broader freight sell-off.

   This period's highest-impact events include companies buying throughput capacity and backing rail consolidation, even as freight names broadly sold off. Each event links back to the underlying filing or article, and our 'why it matters' lines are NeuraCap reads of that record. We hold to a fixed source order of SEC filings, press releases, then established outlets, and we do not draw on video or social platforms. So what: these catalysts show where operators are still investing through the cycle, useful context for judging relative resilience.

   Everything on this page

   MAJOR NEWS & INDUSTRY CATALYSTS Companies Bought Throughput and Backed Rail Consolidation While Freight Sold Off The two-week period's highest-impact events · titles link to the underlying filing or article · September 11–25, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 17 · NEWS · GlobeNewsWire GXO brought a high-throughput robotic fulfilment system live for a fashion customer in the Netherlands GXO Logistics, Inc. (GXO) is adding automated throughput inside an embedded customer operation, with the site set up to scale across EMEA and Asia. Contract logistics wins on embedded operations and switching cost, not on square footage. Sep 17 · NEWS · Accesswire A healthcare AI launch item ran on the newswire under the Ryder System, Inc. (R) ticker NeuraCap reads this as a ticker-tagged feed item rather than a Ryder announcement, so it carries no read-through to the company's dedicated fleet or supply chain operations. Ticker-tagged news feeds pick up unrelated items; check the issuer before treating a headline as company news. Sep 16 · NEWS · Business Wire Lyft signed a multi-year deal as official rideshare partner of a Las Vegas entertainment venue Lyft, Inc. (LYFT) is buying predictable demand at a single high-volume node, which is a density play in people-moving rather than a marketing spend. Density at fixed nodes is what supports utilisation. Anchor contracts at concentrated demand points do more for utilisation than broad reach. Sep 16 · NEWS · Accesswire A Canadian leadership honours announcement was carried on the newswire under Ryder's ticker Again a third-party newswire item rather than a company development, so it does not speak to Ryder's operating position or to the period's sector theme. Screening feeds by issuer, not by ticker tag, keeps the signal clean during a noisy window. Sep 16 · NEWS · PRNewsWire More than 500 customers publicly backed the proposed rail combination involving Norfolk Southern Shipper support is evidence the Surface Transportation Board weighs in merger review, and the stated benefits are market access and supply chain strength. A rail combination would reset intermodal lane economics for everyone who tenders freight onto those lanes. Sep 15 · NEWS · Newsfile Corp A battery and materials company's fireside chat notice appeared under Ryder's ticker This is another feed-tagging artefact rather than a Ryder announcement, and NeuraCap reads no company or sector implication from it. Noise in tagged feeds is worth filtering before it reaches a board or investment committee summary.

5. 05
   M&A & STRATEGIC ACTIVITY

   No New Prints This Period; The Reference Set Still Comes from the Record

   Notes that no new M&A transactions printed in the period, so the pricing reference set still comes from the trailing record of 40 deals at a median of 8.6x EV/EBITDA.

   No new transactions printed in this two-week period, so the deal reference set is unchanged: 40 recorded transactions at a median of 8.6x EV/LTM EBITDA. We use LTM multiples at announcement where disclosed, and our 'why the deal happened' commentary is a read of the recorded evidence, not a new fact. We do not re-present old transactions as if they were news. So what: pricing conversations in this quiet window still have to run off the trailing record.

   Everything on this page

   M&A & STRATEGIC ACTIVITY No New Prints This Period; The Reference Set Still Comes from the Record September 11–25, 2026 · precedent transactions: 40 recorded deals · median 8.6x EV/LTM EBITDA Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 5 No Material Transactions Announced No material sector transactions were announced during the period. The trailing record still supplies the reference points, with 40 transactions carrying a median of 8.6x EV/EBITDA. A quiet two-week period is information: buyer appetite, financing conditions and seller expectations all read through a period with no new deals. The precedent transactions alongside still frame what buyers have paid. 40 Recorded precedent transactions the reference set buyers and sellers price against 8.6x Precedent median EV/LTM EBITDA LTM at announcement, where disclosed

6. 06
   WHAT IT MEANS

   What the Period Changes for Operators, Buyers and Advisors

   Translates the period's evidence into observations for operators, acquirers and advisors.

   For owners and operators, operating ratio and contract mix appear to have carried the difference between names that held up and names that sold off. For acquirers, the reference set is unchanged, so diligence conversations still run off the trailing 8.6x EV/EBITDA median. For advisors, we'd lead with where a business sits in the pricing range — a Premium-tier median of 14.4x against a Discount-tier median of 5.5x — rather than the sector label alone. So what: these are observations to act on, not blanket recommendations.

   Everything on this page

   WHAT IT MEANS What the Period Changes for Operators, Buyers and Advisors The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-25 EV / EBITDA (CY2027E) median 7.6x 22 companies in the study 3 valuation tiers Standing thesis: Logistics and Supply Chain Services Prices as Three Different Businesses Under One Label FOR OWNERS & OPERATORS Operating Ratio and Contract Mix Carried the Difference Most covered names traded lower over the two-week period while the S&P 500 returned +1.1%, and the names that held up were those with contracted, qualified work rather than spot-weighted books. FOR ACQUIRERS The Reference Set Is Unchanged; The Diligence List Is Not No transactions printed in the window, so pricing conversations still run off the trailing record at a median of 8.6x EV/EBITDA against NeuraCap's 7.6x CY2027E sector median. FOR ADVISORS Lead with Placement in the Range, Not the Sector Label The period extends NeuraCap's standing view that this sector prices as three different businesses under one label: a Premium-tier median of 14.4x against a Discount-tier median of 5.5x.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   Documents the sources and methodology behind the update and states the report's important notice.

   Every figure in this update links back to the record it was taken from, and we list the publishers and filings drawn on for the period. This page sets out how we build the bi-weekly update and what kind of statement each figure or driver read rests on. So what: this is the page to check before relying on any number or attribution elsewhere in the deck.

   Everything on this page

   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 11–25, 2026 · market data through 2026-09-25 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Logistics and Supply Chain Services Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. 1 name below the floor was excluded from movers and statistics for this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260925T155546Z_424_prod (market data as of 2026-09-25) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: globenewswire.com · accessnewswire.com · businesswire.com · prnewswire.com · newsfilecorp.com

More coverage in Industrials

• Sector Report · Sep 25, 2026Logistics and Supply Chain Services Sector Outlook — September 2026
• Bi-Weekly Update · Sep 25, 2026Electrical Equipment and Components Bi-Weekly Industry Events & M&A Update — September 11–25, 2026
• Sector Report · Sep 25, 2026Electrical Equipment and Components Sector Outlook — September 2026