Contract Option Exercises — May 14, 2026

Caddell Construction Co. (DE), LLC secured $698,061,227 firm-fixed-price contract from Department of State for office buildings, fully obligated over 5 years to 2027-10-24 under full/open competition, signaling major civilian construction commitment despite $0 outlayed.

S. J. Amoroso Construction Co., LLC received $176,962,279 DOD contract, a high-materiality bullish signal for construction durability through performance period.

Whiting-Turner Contracting Company awarded $131,865,944 firm-fixed-price delivery order from DHS Coast Guard for Pier Papa recapitalization at USCG Base Charleston, fully obligated over 4.3 years to 2026-11-21.

Booz Allen Hamilton Inc. won $79,261,970 cost-plus delivery order from GSA for NEBULA engineering (NAICS 541330), with base + options at $340M over potential 5 years to 2029.

High pricing risk on firm-fixed-price contracts to Caddell ($698M State), Whiting-Turner ($132M DHS), and V3GATE ($134M VA IT), with $0 outlayed on largest despite full obligations.

$0 outlayed on high-materiality awards like Caddell $698M State and Whiting-Turner $132M DHS despite full obligations, signaling potential funding delays.

Firm-fixed-price structure heightens performance risk on construction-heavy awards from State (Caddell $698M) and Interior (TEPA EC $88M school build), with $71M already outlayed on TEPA.

Set-asides limit pure competition signals for V3GATE $134M VA (SDVOSB) and McCallie $63M NASA (8(a)), despite full/open after exclusions.

Booz Allen Hamilton $79M GSA engineering with $340M base + options ceiling, cost-plus structure lowers risk for expansion to 2029.

McCallie Associates $63M NASA GN&C engineering (potential $298M ceiling), $52M outlayed with 115 subawards signals scaling via options.

ITC Federal $62M DHS ICE IT platforms (ceiling $80M), $46M outlayed supports steady execution to 2027.

Dominant theme with $698M State to Caddell, $177M DOD to Amoroso, $132M DHS to Whiting-Turner, and $88M Interior to TEPA EC, all firm-fixed-price for buildings/infrastructure through 2026-2027.

Awards like $134M VA VMware to V3GATE, $79M GSA engineering to Booz Allen (potential $340M), and $63M NASA to McCallie highlight steady IT/R&D obligations with high outlays ($82M V3GATE, $52M McCallie).

{"entity"=>"Caddell Construction Co. (DE), LLC", "reason"=>"$698M State obligation with $0 outlayed signals early-stage funding risk on 5-year office build.", "trigger"=>"outlay progress; 2027-10-24 performance end"}

{"entity"=>"Booz Allen Hamilton Inc.", "reason"=>"$79M GSA obligation (potential $340M) with $71.5M subawards and cost-plus fee structure.", "trigger"=>"option exercises; outlays from $0"}

{"entity"=>"Whiting-Turner Contracting Company", "reason"=>"$132M DHS pier recapitalization fully obligated but $0 outlayed over 4.3 years.", "trigger"=>"outlay start; 2026-11-21 end date"}

{"entity"=>"V3GATE, LLC", "reason"=>"$134M VA IT with $82M outlayed on SDVOSB set-aside through 2026-09-30.", "trigger"=>"remaining options to $137M"}