Executive Summary
A single $847,040,000 firm fixed price delivery order awarded to Fisher Sand & Gravel Co by U.S. Customs and Border Protection (DHS) dominates this period's contract exercises, representing 100% civilian spending with 0 defense-related awards.
The order funds SW Border Construction in San Diego, CA, over ~2.3 years from April 26, 2026, to August 31, 2028, signaling bullish conviction for DHS/CBP infrastructure buildout via full and open competition. Highest-conviction signal is the massive future revenue stream for Fisher Sand & Gravel Co, estimated at $356M annually. Key risk is high pricing/execution exposure under firm fixed price terms with $0 outlayed to date, warranting close monitoring of spending progress.
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Tracking the trend? Catch up on the prior Contract Option Exercises digest from April 26, 2026.
Investment Signals (1)
- Fisher Sand & Gravel Co Wins $847M DHS SW Border Construction Delivery Order (HIGH)▲
Fisher Sand & Gravel Co received an $847,040,000 firm fixed price delivery order from U.S. Customs and Border Protection for SW Border Construction in San Diego, CA, spanning April 26, 2026, to August 31, 2028, under full and open competition after exclusion of sources. This non-small business award provides a significant ~$356M annual revenue estimate over 2.3 years in NAICS 236220 commercial/institutional building construction.
Risk Flags (1)
- Execution [HIGH RISK]▼
High pricing risk for Fisher Sand & Gravel Co under firm fixed price terms for the $847M DHS delivery order, with $0 total outlayed to date and performance fully at San Diego, CA site through August 31, 2028.
Opportunities (1)
- ◆
Fisher Sand & Gravel Co gains substantial medium-term revenue from $847M DHS/CBP border construction order in NAICS 236220, highlighting infrastructure expansion.
Sector Themes (1)
- ◆
U.S. Customs and Border Protection awarded Fisher Sand & Gravel Co an $847,040,000 firm fixed price delivery order for SW Border Construction in San Diego, CA (PSC Y1PZ), signaling priority on non-building facilities over 2.3 years.
Watch List (2)
- 👁
{"entity"=>"Fisher Sand & Gravel Co", "reason"=>"$847M DHS delivery order with $0 outlayed to date under firm fixed price terms, representing high materiality future revenue (~$356M annually) in SW Border Construction.", "trigger"=>"total outlayed progress updates, performance milestones to 2028-08-31, modifications to obligation or terms"}
- 👁
{"entity"=>"DHS/CBP Infrastructure Sector", "reason"=>"Large $847M civilian award to non-small business Fisher Sand & Gravel Co via full and open competition after exclusions, indicating border facility priorities.", "trigger"=>"subsequent task orders or modifications in PSC Y1PZ/NAICS 236220"}
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