DHS Homeland Security Contracts — August 28, 2026

PAE Aviation and Technical Services LLC, a subsidiary of Amentum Services Inc., received a $201.7 million cost-plus-incentive-fee contract from DHS Customs and Border Protection for aviation maintenance and logistics, awarded non-competitively, signaling a strong incumbent position and specialized capability in border security air operations.

IBM's $580.4 million cost-plus-award-fee delivery order from FEMA for EADIS software development (2008-2016) has a total outlayed amount of negative $23,548, indicating no actual spending to date, potentially due to contract completion or termination, which undermines revenue expectations.

IBM's $580.4M FEMA delivery order has a negative outlay of $-23,548, suggesting the contract may be inactive or terminated, posing a risk to revenue recognition for investors tracking IBM's federal IT pipeline.

The PAE Aviation $201.7M contract has a short performance period (April 2020 to September 2021) and only $4.1 million outlayed so far, indicating slow spending that could be vulnerable to DHS budget reallocations under a continuing resolution.

Both contracts are from the Department of Homeland Security, creating agency-specific concentration risk for investors; any DHS budget cuts or policy shifts could materially impact both IBM and Amentum's federal revenue streams.

PAE Aviation's $201.7M sole-source award for CBP aviation maintenance highlights Amentum's entrenched position in border security logistics, presenting a growth opportunity if options are exercised or the contract is extended beyond September 2021.

IBM's $580.4M FEMA delivery order, despite negative outlay, signals DHS's long-term commitment to emergency management IT systems, creating potential for future task orders or re-competitions in the EADIS software development space.

The $201.7M sole-source award to PAE Aviation for CBP aircraft maintenance and repair underscores sustained DHS investment in air operations for border security, a policy priority that supports contractors with specialized aviation logistics capabilities.

IBM's $580.4M FEMA delivery order, awarded in 2008 with a 2016 end date and negative outlay, exemplifies the risk of legacy federal IT contracts where reported obligations may not translate to actual revenue, a concern for investors tracking top-line growth in government services.

{"entity" => "Amentum Services Inc.", "reason" => "PAE Aviation's $201.7M sole-source CBP contract has only $4.1M outlayed, with options expiring September 2021; option exercise or extension would confirm revenue trajectory.", "trigger" => "Option exercise announcement or contract modification from DHS"}

{"entity" => "International Business Machines Corporation", "reason" => "IBM's $580.4M FEMA delivery order has negative outlay, raising questions about contract status; any modification or new task order would signal renewed activity.", "trigger" => "FEMA IT modernization announcement or contract modification filing"}

{"entity" => "Department of Homeland Security", "reason" => "Both contracts are DHS awards; agency budget developments or policy shifts (e.g., border security funding, CR impact) directly affect IBM and Amentum.", "trigger" => "DHS budget request for FY2027, continuing resolution passage, or NDAA provisions"}