Significant Contract Modifications ($10M+) — February 20, 2026

9 contracts totaling $1.7B in NAICS 541512/541330 awarded/modified, led by Booz Allen ($818M total), Peraton ($211M), SAIC ($59M).

Clark ($616M hospital) and Kiewit ($242M Hurricane Helene bridges/highways) secure $858M in design-build work through 2028.

Paratek ($265M antibiotic to 2029) and Luminary Labs ($100M R&D to 2028) gain $365M HHS/BARDA awards amid health security push.

Lockheed Martin secures $74M + $5M for GEOXO Lightning Mapper (to 2049) and lunar studies, signaling decades-long R&D pipeline.

Textron Aviation ($134M obligated, $283M potential) for 18 FAA Beechcraft aircraft through 2031 underscores federal fleet sustainment.

Firm-fixed-price structures in 12 contracts (~$2B) expose contractors to cost overruns in construction, R&D, manufacturing amid inflation/delays.

$0 outlays in 8 contracts ($585M total obligation) signal potential funding delays or non-starts.

Heavy subawards (e.g., Peraton $258M/53 subs, Amentum 70/$16M) create dependency risks on subcontractor execution.

Long horizons (e.g., Lockheed to 2049, Textron to 2031) vulnerable to budget shifts, tech changes.

Unexercised options exceed $2B (e.g., Peraton $142M, SAIC $268M, Lockheed $297M), potentially doubling obligated values.

GSA vehicle expansions (8 contracts, $1.2B) position winners for follow-ons in IT/engineering.

Disaster recovery (Kiewit Helene $242M) and fire retardant (Perimeter $64M fully outlayed) signal seasonal repeat business.

BARDA biothreat prizes (Paratek/Luminary $365M) open doors for small biz in health security R&D.

13 contracts ($2B+) in NAICS 541512/541330 via GSA/VA/DHS underscore multi-year modernization spend.

Hospital (Clark) and disaster repair (Kiewit) total $858M reflect IIJA/DRF priorities through 2028.

NASA/Lockheed/Textron deals to 2049/2031 signal Artemis/GEO sustained investment.

$365M HHS awards to 2029 highlight biothreat antibiotic/platform priorities.

{"entity"=>"Booz Allen Hamilton (BAH)", "reason"=>"Largest winner ($818M GSA/VA IT), but dual FFP/T&M mix with expiring periods.", "trigger"=>"Q2 2026 10-Q backlog/outlay updates"}

{"entity"=>"Lockheed Martin (LMT)", "reason"=>"$79M NASA adds to space pipeline, but 25yr horizon needs option milestones.", "trigger"=>"NASA FY2027 budget; GEOXO progress"}

{"entity"=>"Peraton/SAIC IT Vehicles", "reason"=>"$270M+ options in DHS/GSA IT; subaward/heavy reliance flags margins.", "trigger"=>"Outlay acceleration or stop-work resolutions"}

{"entity"=>"Kiewit/Clark Construction", "reason"=>"$858M infra, but FFP overruns in design-build/hospitals.", "trigger"=>"2026 site progress reports"}