Executive Summary
DHS Homeland Security contracts totaling $494,743,378 over the period highlight civilian infrastructure and disaster recovery spending, with 0/2 defense-related awards focused on U.S. Coast Guard and FEMA priorities.
The highest-materiality signal is Whiting-Turner Contracting Company's $400,000,000 firm fixed-price delivery order for Coast Guard facility construction at Cape May, NJ, representing ~81% of aggregate value and a ~$100M annual revenue estimate over four years. Jacobs Engineering Group Inc. (via CH2M HILL - CDM PA-TAC RECOVERY SERVICES) adds $94,743,378 in confirmed FEMA disaster recovery consulting revenue, with $88,083,223 already outlayed. Both full and open competition awards are bullish for sustained DHS civilian outlays. Key risk: zero outlays to date on the $400M Whiting-Turner contract signals execution dependency.
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Tracking the trend? Catch up on the prior DHS Homeland Security Contracts digest from April 30, 2026.
Investment Signals (2)
- Whiting-Turner Contracting Company Wins $400M DHS Coast Guard Construction Order (HIGH)▲
Whiting-Turner received a $400,000,000 firm fixed-price delivery order from U.S. Coast Guard for barracks and training facilities at TRACEN Cape May, NJ, spanning 2026-04-29 to 2030-05-06 under full and open competition, estimating ~$100M annual revenue.
- Jacobs Engineering Secures $94.7M FEMA Disaster Recovery Delivery Order (MEDIUM)▲
Jacobs Engineering Group Inc. (parent of CH2M HILL - CDM PA-TAC RECOVERY SERVICES) holds a $94,743,378 time and materials order from DHS/FEMA for Hermit Peak fire claims support, with $88,083,223 outlayed (93% disbursed) and ~$12M net annual revenue post-subawards through 2025-08-15.
Risk Flags (2)
- Execution [HIGH RISK]▼
Whiting-Turner Contracting Company's $400M firm fixed-price contract carries high pricing risk with $0 outlayed to date, vulnerable to cost overruns in commercial building construction (NAICS 236220) over four-year performance period.
- Budget [MEDIUM RISK]▼
Jacobs Engineering's $94.7M FEMA order nears completion with only ~$6.6M remaining outlays by 2025-08-15, plus $64.8M in subawards potentially pressuring prime margins.
Opportunities (2)
- ◆
Whiting-Turner Contracting Company's $400M Coast Guard construction order under full and open competition positions it for follow-on DHS infrastructure work.
- ◆
Jacobs Engineering Group Inc.'s FEMA disaster recovery experience with $94.7M obligation supports expansion in emergency response consulting (PSC R429).
Sector Themes (2)
- ◆
U.S. Coast Guard's $400M award to Whiting-Turner for accelerated design-build of barracks, training, galley, and firehouse at Cape May, NJ, underscores commitment to facility upgrades via firm fixed-price delivery orders.
- ◆
DHS/FEMA's $94.7M time and materials order to Jacobs Engineering (CH2M HILL) for Hermit Peak fire claims, with 93% outlayed, evidences ongoing emergency response spending.
Watch List (2)
- 👁
{"entity"=>"Whiting-Turner Contracting Company", "reason"=>"$400M Coast Guard contract with $0 outlayed and high firm fixed-price risk", "trigger"=>"outlay progress and modifications to $400M obligation"}
- 👁
{"entity"=>"Jacobs Engineering Group Inc.", "reason"=>"$94.7M FEMA order with ~$6.6M remaining outlays and 2025-08-15 end date", "trigger"=>"remaining outlays and subaward execution impacts on margins"}
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