Executive Summary
DHS/CBP awarded Fisher Sand & Gravel Co a $334M firm-fixed-price delivery order for border wall construction in AZ, signaling bullish revenue visibility through Dec 2027 with $62M already outlayed. Full obligation of base + options via open competition underscores contractor strength in NAICS 236220. FFP risks cost overruns and delays in remote location, but positions firm for CBP infrastructure expansion.
Tracking the trend? Catch up on the prior Contract Deobligations Alert digest from February 07, 2026.
Investment Signals(1)
- $334M border wall contract locked in(HIGH)▲
Full obligation provides 2.5-year revenue certainty; $62M outlay confirms execution start.
Risk Flags(3)
- Execution[HIGH RISK]▼
FFP structure exposes to cost overruns over 2.5-year term
- Execution[MEDIUM RISK]▼
Delays possible in remote Sonoita, AZ site targeting Dec 2027 completion
- Market[MEDIUM RISK]▼
Uneven cash flows from $62M outlay vs. $334M obligation
Opportunities(1)
- ◆
Full open competition awards signal pipeline for similar CBP border projects
Sector Themes(1)
- ◆
New vertical barrier wall orders via full open competition to non-setaside firms.
Watch List(1)
- 👁
{"entity"=>"FISHER SAND & GRAVEL CO", "reason"=>"$334M obligated revenue (19% outlayed) amid CBP expansion potential", "trigger"=>"New DHS awards or outlay acceleration >20% QoQ"}
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