Contract Deobligations Alert — May 06, 2026

Hensel Phelps' $188,297,215 cost-plus incentive fee contract for Calexico West Land Port of Entry shows strong execution with $143,019,223 (76%) outlayed since 2019 award, extending to June 2026.

Vendor Resource Management's $200,641,730 VA residential property management contract has just $38,359,535 outlayed since 2017, under fixed price incentive terms with options to $374M.

Peraton's $220,065,714 cost-plus-fixed-fee NASA contract for GOCO R&D facilities has $89,904,986 outlayed with $71.6M in subawards, ongoing to April 2025.

Favor TechConsulting's $128,186,621 firm fixed price VA IT support order has $16,478,924 outlayed since 2022 with $32M subawards, potential to $185M through 2026.

Low outlay rates in VA contracts for Vendor Resource Management ($38M of $200M, 19%) and Favor TechConsulting ($16M of $128M, 13%) indicate potential delays or non-exercise of options to higher ceilings.

Peraton's NASA contract ends April 2025 with $130M remaining obligation post-$89.9M outlay, vulnerable to follow-on competition or civilian budget constraints.

Hensel Phelps GSA construction contract offers near-term revenue from remaining $45M obligation through June 2026 potential extension.

VA options exercise could unlock $174M+ additional for Vendor Resource Management (to $374M ceiling) and Favor TechConsulting (to $185M).

Department of Veterans Affairs dominates with $328.8M across Vendor Resource Management ($200M residential properties) and Favor TechConsulting ($128M IT development), both with low outlays signaling ramp potential.

Hensel Phelps' $188M cost-plus contract for Calexico port expansion shows 76% outlay, underscoring reliable federal construction spending.

{"entity"=>"Hensel Phelps Construction Co.", "reason"=>"$188M GSA contract with $143M outlayed and $45M remaining through 2026", "trigger"=>"outlay progress; June 30, 2026 end date or July 31, 2026 extension"}

{"entity"=>"Vendor Resource Management, Inc.", "reason"=>"$200M VA contract with only $38M outlayed and options to $374M", "trigger"=>"option exercise toward 2025-09-30/2027-04-26"}

{"entity"=>"Peraton Inc.", "reason"=>"$220M NASA contract ending 2025-04-30 with $130M remaining obligation", "trigger"=>"follow-on awards post-April 2025"}

{"entity"=>"Favor TechConsulting, LLC", "reason"=>"$128M VA IT order with $16M outlayed and potential to $185M by 2026", "trigger"=>"option exercises through 2026-09-29"}