Executive Summary
These five civilian contracts total $2,789,953,840 in obligations, with 0/5 defense-related, dominated by a massive $2.01B Department of Energy award to WASHINGTON TRU SOLUTIONS LLC and a cluster of student loan servicing deals at the Department of Education totaling $365M to NELNET SERVICING LLC ($200.3M) and MAXIMUS EDUCATION LLC ($164.8M). CGI FEDERAL INC. secures steady IT revenue across HHS ($261.9M PECOS system) and State ($155.1M consular IT), highlighting multi-agency exposure. Highest-conviction signal is the bullish $200.3M NELNET SERVICING LLC student loan servicing award (strength 8/10, materiality 9/10) signaling future revenue from 2026-04-01. Key risk is zero outlays to date on the new Education contracts, with dependency on options exercise for full value realization.
Tracking the trend? Catch up on the prior General Federal Contracts digest from April 02, 2026.
Investment Signals(5)
- WASHINGTON TRU SOLUTIONS LLC Secures $2.01B DOE Contract(MEDIUM)▲
WASHINGTON TRU SOLUTIONS LLC awarded $2,007,900,739 obligation from Department of Energy, representing the largest and highest materiality (8/10) signal in this batch.
- NELNET SERVICING LLC Wins $200.3M Department of Education Student Loan Servicing Deal(HIGH)▲
$200,254,303 delivery order for student loan operations and maintenance from 2026-04-01 to potential 2027-12-31, with zero outlays signaling pure future revenue under full and open competition.
- MAXIMUS EDUCATION LLC Lands $164.8M Long-Term Student Loan Servicing Contract(HIGH)▲
$164,825,610 obligation (potential $376.4M with options) from Department of Education for 7-year performance to 2033-04-24, zero outlays to date under firm fixed price.
- CGI FEDERAL INC. Awarded $155.1M State Department Consular IT Services Order(MEDIUM)▲
$155,114,308 obligation (potential $218.6M) for computer facilities management from 2018-2024, with $32.3M already outlayed under fixed price incentive.
- CGI FEDERAL INC. Continues $261.9M HHS PECOS Medicare Enrollment Support(MEDIUM)▲
Ongoing $261,858,878 firm fixed price delivery order to 2026-11-30 (potential 2027-02-28), with $112.6M outlayed and 64 subawards totaling $40.1M.
Risk Flags(2)
- Execution[HIGH RISK]▼
NELNET SERVICING LLC and MAXIMUS EDUCATION LLC Department of Education contracts have $0 outlayed to date despite recent 2026-03-31 awards, with high pricing risk on fixed-price structures.
- Budget[MEDIUM RISK]▼
CGI FEDERAL INC. HHS contract faces high contract risk with $112.6M outlayed toward $261.9M obligation, dependent on options to reach $264.3M ceiling.
Opportunities(2)
- ◆
Department of Education student loan servicing expansion with $365M combined to NELNET SERVICING LLC ($200.3M) and MAXIMUS EDUCATION LLC ($164.8M, potential $376.4M).
- ◆
CGI FEDERAL INC. multi-agency IT stability with State Department $155.1M (potential $218.6M) and HHS $261.9M ongoing.
Sector Themes(2)
- ◆
Two high-materiality awards totaling $365M to NELNET SERVICING LLC ($200.3M, materiality 9/10) and MAXIMUS EDUCATION LLC ($164.8M, materiality 8/10) for O&M from 2026-04-01, signaling policy priority in financial services (NAICS 522390).
- ◆
CGI FEDERAL INC. captures $417M across State ($155.1M consular IT) and HHS ($261.9M PECOS), with partial outlays providing revenue visibility through 2026-2027.
Watch List(4)
- 👁
{"entity"=>"NELNET SERVICING LLC", "reason"=>"$200.3M Department of Education contract with $0 outlayed and potential extension to 2027-12-31.", "trigger"=>"options exercise and initial outlays post-2026-04-01"}
- 👁
{"entity"=>"MAXIMUS EDUCATION LLC", "reason"=>"$164.8M obligation (potential $376.4M) student loan servicing to 2033-04-24 with $0 outlayed.", "trigger"=>"options exercise toward $376.4M ceiling"}
- 👁
{"entity"=>"CGI FEDERAL INC.", "reason"=>"Combined $417M across HHS ($112.6M outlayed) and State ($32.3M outlayed) contracts dependent on options.", "trigger"=>"outlay progress and option exercises by 2026-11-30 (HHS)"}
- 👁
{"entity"=>"WASHINGTON TRU SOLUTIONS LLC", "reason"=>"Dominant $2.01B DOE obligation with limited visibility on revenue/pricing risks.", "trigger"=>"outlay and performance updates on 2000-12-14 contract"}
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