Significant Contract Modifications ($10M+) — May 06, 2026

$188,297,215 cost-plus incentive fee contract for Calexico Land Port expansion shows 76% ($143M) outlayed since 2019, with $45M remaining through June 2026, indicating reliable construction revenue visibility.

Only $38.4M (19%) outlayed on $200,641,730 fixed-price incentive contract for VA property management since 2017, with $374M ceiling unexercised, raising medium pricing risk through 2025-2027.

$128,186,621 firm fixed price order for VA IT support has just $16.5M (13%) outlayed since 2022, with high pricing risk and $31.97M subawards amid unexercised $185M options to 2026.

$220,065,714 cost-plus-fixed-fee contract for NASA Goddard Balloon Facility has $89.9M outlayed (41%) with $71.6M subawards since 2015, providing ~$21.5M annual revenue to 2025.

Low outlays on VA contracts: Vendor Resource Management Inc. at 19% ($38.4M of $200.6M) and Favor Techconsulting LLC at 13% ($16.5M of $128.2M), with fixed-price structures amplifying performance risk.

Peraton Inc.'s $220M NASA contract nears 2025-04-30 end with $130M remaining obligation, vulnerable to non-renewal or CR uncertainty if re-compete delayed.

Hensel Phelps Construction Co. $188M GSA project offers near-term $45M remaining outlays through 2026, with potential July 2026 extension.

Peraton Inc. NASA Balloon Facility contract ending 2025-04-30 positions for follow-on R&D ops award.

VA options on Vendor Resource ($374M ceiling) and Favor Techconsulting ($185M ceiling) contracts could unlock $300M+ if exercised.

VA awarded $328.8M total to Vendor Resource Management Inc. ($200.6M real estate) and Favor Techconsulting LLC ($128.2M IT), though low outlays (13-19%) signal cautious ramp-up.

Hensel Phelps $188M cost-plus contract for Calexico port expansion has 76% outlayed, underscoring durable civilian construction spend.

{"entity"=>"Hensel Phelps Construction Co.", "reason"=>"$143M outlayed on $188M GSA contract with $45M remaining to June 2026.", "trigger"=>"outlay progress beyond $143M, end date June 30, 2026 vs. potential July 31, 2026"}

{"entity"=>"Peraton Inc.", "reason"=>"$220M NASA contract 41% executed with $130M obligation left before 2025-04-30 end.", "trigger"=>"outlay toward remaining $130M, follow-on awards post-2025-04-30"}

{"entity"=>"Vendor Resource Management Inc.", "reason"=>"Only $38.4M outlayed on $200.6M VA contract with $374M ceiling.", "trigger"=>"option exercise toward 2025-09-30 or 2027-04-26"}

{"entity"=>"Favor Techconsulting LLC", "reason"=>"$16.5M outlayed on $128M VA IT order with $185M options to 2026.", "trigger"=>"outlay ramp-up, option exercise to $185.9M by 2026-09-29"}