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General Federal Contracts — April 24, 2026

General Federal Contracts

1 total filings analysed

Executive Summary

A single civilian contract totaling $129,150,000 was awarded by the Department of the Interior's National Park Service to RECORD STEEL AND CONSTRUCTION, INC., representing 0% defense exposure in this period's aggregate. The firm fixed-price award for Canyon Village wastewater treatment rehabilitation in Yellowstone National Park signals neutral investment potential with low strength (3/10) and materiality (2/10). Dominant theme is sustained NPS spending on national park infrastructure maintenance in water/sewer construction (NAICS 237110, PSC Y1ND). Highest-conviction signal is deferred revenue recognition potential, with $0 outlayed across the $129M obligation indicating future cash flows over 1.83 years to 2028-02-14. Key risk is high pricing risk inherent to the firm fixed-price structure; watch total outlayed progress from $0.

Tracking the trend? Catch up on the prior General Federal Contracts digest from April 23, 2026.

Investment Signals(2)

  • RECORD STEEL AND CONSTRUCTION, INC. Awarded $129M NPS Infrastructure Rehab Contract(LOW)

    $129,150,000 firm fixed-price definitive contract via full and open competition for Yellowstone NP wastewater systems, with $0 outlayed signaling future revenue stream estimated at $71M annually over 1.83-year period.

  • High Pricing Risk on RECORD STEEL's $129M Firm Fixed-Price Award(MEDIUM)

    Firm fixed-price structure on $129,150,000 NPS contract exposes RECORD STEEL AND CONSTRUCTION, INC. to high pricing risk during performance from 2026-04-22 to 2028-02-14.

Risk Flags(1)

  • Execution[HIGH RISK]

    High contract pricing risk on $129,150,000 firm fixed-price award to RECORD STEEL AND CONSTRUCTION, INC. by National Park Service for Yellowstone wastewater rehab, with $0 outlayed to date.

Opportunities(1)

  • RECORD STEEL AND CONSTRUCTION, INC. positioned for $129M revenue recognition from NPS wastewater infrastructure rehab contract spanning 2026-2028.

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 systems in Yellowstone NP under full and open competition.

Watch List(1)

  • 👁

    {"entity"=>"RECORD STEEL AND CONSTRUCTION, INC.", "reason"=>"$129,150,000 NPS contract with $0 outlayed and high pricing risk; future cash flows hinge on execution over 1.83-year term.", "trigger"=>"Total outlayed progress from $0, performance milestones toward 2028-02-14, contract modifications"}

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