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Contract Deobligations Alert — April 24, 2026

Contract Deobligations Alert

By Gunpowder Editorial ·

1 total filings analysed

Executive Summary

This digest covers one civilian government contract totaling $129,150,000 in obligations, with a 0/1 defense-related split, highlighting Department of the Interior/National Park Service spending on infrastructure rehabilitation. RECORD STEEL AND CONSTRUCTION, INC. received a $129,150,000 firm fixed price award under full and open competition for Canyon Village wastewater treatment systems rehabilitation in Yellowstone National Park, WY, spanning 2026-04-22 to 2028-02-14.

The neutral signal (strength 3/10, materiality 2/10) points to a future revenue stream estimated at $71M annually with $0 outlayed to date. The highest-conviction signal is low-confidence medium-term civilian infrastructure growth for the contractor. A key risk is high pricing risk inherent to the firm fixed price structure, with a watch item on total outlayed progress from $0.

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Tracking the trend? Catch up on the prior Contract Deobligations Alert digest from April 23, 2026.

Investment Signals (1)

  • RECORD STEEL AND CONSTRUCTION, INC. awarded $129,150,000 NPS wastewater rehab contract (LOW)

    Full and open competition firm fixed price definitive contract for NAICS 237110 water/sewer construction in Yellowstone NP, with base + options fully obligated at $129,150,000 but $0 outlayed, signaling future cash flows over 1.83 years.

Risk Flags (1)

  • Execution [HIGH RISK]

    High pricing risk on $129,150,000 firm fixed price contract awarded to RECORD STEEL AND CONSTRUCTION, INC. by National Park Service, as performance in Yellowstone NP wastewater rehab carries elevated fixed-price exposure with no outlays yet.

Opportunities (1)

  • $129,150,000 obligation to RECORD STEEL AND CONSTRUCTION, INC. supports sustained Interior/NPS facilities maintenance spending in water/sewer infrastructure (NAICS 237110, PSC Y1ND).

Sector Themes (1)

  • Department of the Interior/National Park Service awarded $129,150,000 firm fixed price contract to RECORD STEEL AND CONSTRUCTION, INC. for Yellowstone NP wastewater systems under full and open competition, with no outlays yet indicating future execution.

Watch List (2)

  • 👁

    {"entity"=>"RECORD STEEL AND CONSTRUCTION, INC.", "reason"=>"$129,150,000 NPS contract with $0 outlayed signals future revenue but high pricing risk on firm fixed price structure.", "trigger"=>"Total outlayed progress from $0; performance milestones toward 2028-02-14 end date; modifications to obligation"}

  • 👁

    {"entity"=>"Civilian construction sector (NAICS 237110)", "reason"=>"Supports sustained Interior/NPS spending on facilities maintenance via $129,150,000 award.", "trigger"=>"Outlay progress and contract execution milestones"}

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