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Significant Contract Modifications ($10M+) — April 24, 2026

Significant Contract Modifications ($10M+)

By Gunpowder Editorial ·

1 total filings analysed

Executive Summary

This period features a single significant contract modification totaling $129,150,000 in obligations, with a 0/1 defense-related split indicating fully civilian exposure via the Department of the Interior's National Park Service.

RECORD STEEL AND CONSTRUCTION, INC. received a $129,150,000 firm fixed price contract under full and open competition for rehabilitating Canyon Village wastewater treatment systems in Yellowstone National Park, WY, spanning 2026-04-22 to 2028-02-14. The dominant agency theme is sustained NPS spending on facilities maintenance and infrastructure rehabilitation (NAICS 237110, PSC Y1ND). The highest-conviction signal is neutral (strength 3/10, materiality 2/10), highlighting a future revenue stream estimated at $71M annually with $0 outlayed to date. A key risk is high pricing risk inherent to the firm fixed price structure, with no immediate revenue recognition.

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Tracking the trend? Catch up on the prior Significant Contract Modifications ($10M+) digest from April 23, 2026.

Investment Signals (1)

  • RECORD STEEL AND CONSTRUCTION, INC. secures $129,150,000 NPS wastewater rehabilitation contract (LOW)

    Firm fixed price definitive award via full and open competition to the Boise, ID-based non-small business provides a future revenue stream of approximately $71M annually over the 1.83-year performance period from 2026-04-22 to 2028-02-14, with $0 outlayed signaling delayed but potential cash flows.

Risk Flags (1)

  • Execution [HIGH RISK]

    High pricing risk on firm fixed price contract for RECORD STEEL AND CONSTRUCTION, INC. with Department of the Interior's National Park Service, as $0 has been outlayed against the $129,150,000 obligation.

Opportunities (1)

  • RECORD STEEL AND CONSTRUCTION, INC. gains medium-term exposure to NPS infrastructure rehabilitation via $129,150,000 firm fixed price contract for Yellowstone National Park wastewater systems.

Sector Themes (1)

  • Department of the Interior's National Park Service awarded $129,150,000 firm fixed price contract to RECORD STEEL AND CONSTRUCTION, INC. for Canyon Village wastewater treatment rehab in Yellowstone NP, underscoring commitment to sewage and waste facilities (PSC Y1ND).

Watch List (1)

  • 👁

    {"entity"=>"RECORD STEEL AND CONSTRUCTION, INC.", "reason"=>"$129,150,000 NPS contract with $0 outlayed and high pricing risk on firm fixed price structure", "trigger"=>"total outlayed progress from $0, performance milestones toward 2028-02-14 end date, modifications to obligation"}

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