Executive Summary
These 21 significant contract modifications total $1,798,808,650 in obligations, entirely civilian with 0 defense-related awards, reflecting steady federal spending across agencies like DOJ, Education, HUD, DHS, GSA, HHS, and NASA. Dominant themes include large-scale construction (e.g., Brasfield & Gorrie LLC's $519M FBI Redstone Arsenal project) and financial/IT services for civilian missions. Highest-conviction bullish signal is Brasfield & Gorrie LLC's $519M fixed-price delivery order with $99M already outlayed over 6.7 years, signaling durable revenue. Key risk is execution under firm fixed-price structures on long-term contracts like Trane U.S. Inc.'s $79M GSA energy project with $0 outlayed over 20 years.
Tracking the trend? Catch up on the prior Significant Contract Modifications ($10M+) digest from April 09, 2026.
Investment Signals(8)
- Brasfield & Gorrie LLC Secures $519M DOJ Construction at Redstone Arsenal(HIGH)▲
Brasfield & Gorrie LLC awarded $519,305,226 fixed-price delivery order by FBI for Academic Zone Design-Build, with $99,380,719 outlayed to date over 6.7-year term to 2030-01-28.
- Compu-Link Corp Wins $86M HUD HECM Services Contract(MEDIUM)▲
Compu-Link Corp received $85,959,050 firm fixed-price contract from HUD for HOME EQUITY CONVERSION MORTGAGE services, with $36,400,023 outlayed over 21 months to 2026-08-11.
- Trane U.S. Inc. Lands $80M GSA Energy Conservation Project(MEDIUM)▲
Trane U.S. Inc. awarded $79,676,344 firm fixed-price delivery order by GSA for 98 energy/water measures across 10 NYC buildings, with $185M options ceiling over 20 years to 2036.
- Booz Allen Hamilton Gains $80M GSA C4ISR Support at Eglin AFB(MEDIUM)▲
Booz Allen Hamilton Inc. received $48,903,469 time-and-materials delivery order from GSA for C4ISR engineering at Eglin AFB, with $80M options ceiling to potential 2028-06-30.
- General Dynamics IT Secures $61M HHS Medicare Payments Support(MEDIUM)▲
General Dynamics Information Technology awarded $61,173,339 time-and-materials delivery order by CMS/HHS for Medicare Secondary Payment Systems, with $41,898,435 outlayed over 2 years to 2026-09-11.
- GEO Group Awarded $60M DHS ICE Detention Services(MEDIUM)▲
The GEO Group, Inc. received $59,993,453 firm fixed-price delivery order by ICE/DHS for Denver detention facility services, with $47,096,715 outlayed over 1-year term to 2025-10-15.
- TRAX International Wins $48M NASA Goddard Logistics(HIGH)▲
TRAX International Corporation awarded $47,853,227 cost-plus-fixed-fee contract by NASA Goddard for logistics support, with $39,343,626 outlayed and $265M options ceiling to potential 2029-07-31.
- Booz Allen Hamilton Adds $80M USPTO IT Delivery Order(MEDIUM)▲
Booz Allen Hamilton Inc. secured $79,658,974 labor-hours delivery order from USPTO/Commerce for NWOW trademark systems, with $119M options ceiling to potential 2028-06-30.
Risk Flags(4)
- Execution[HIGH RISK]▼
Trane U.S. Inc.'s $79M GSA energy project carries high firm fixed-price risk with $0 outlayed over 20-year term despite $185M options.
- Budget[HIGH RISK]▼
L3Harris (Harris Corp) $102M FAA IT/telecom order shows only $33M outlayed since 2006 against $5.9B ceiling, signaling funding uncertainty.
- Execution[MEDIUM RISK]▼
Brasfield & Gorrie LLC's $519M DOJ fixed-price construction has medium pricing risk with economic adjustments over 6.7 years.
- Concentration[MEDIUM RISK]▼
High subawards in Peraton Enterprise Solutions LLC's $82M DHS CBP network management (97.6% of $36M outlayed to 67 subs) risk prime margin erosion.
Opportunities(3)
- ◆
TRAX International Corporation's $265M NASA Goddard options ceiling offers multi-year upside beyond $48M obligated.
- ◆
Booz Allen Hamilton Inc. has $31M unexercised options on $80M GSA C4ISR and $40M on $80M USPTO orders.
- ◆
EdFinancial Services LLC's $121M Education student loan servicing has $155M unexercised options to $276M total.
Sector Themes(4)
- ◆
Brasfield & Gorrie LLC ($519M DOJ Redstone), Trane U.S. Inc. ($80M GSA NYC buildings), and Clark Construction Group LLC ($52M HHS grant) highlight multi-year commitments for office, energy, and institutional builds.
- ◆
California Institute of Technology repeats with $59M and $53M NASA JPL orders for earth science/UAVSAR (to 2027/2028), plus TRAX International's $48M Goddard logistics ($265M ceiling).
- ◆
Compu-Link Corp ($86M HUD HECM), EdFinancial ($121M Education loans), Booz Allen ($80M USPTO IT) show fixed-price/labor-hours wins in civilian financial/IT ops.
- ◆
GEO Group ($60M ICE Denver facility) and Peraton ($82M CBP networks) underscore ongoing facilities/IT needs to 2025/2027.
Watch List(5)
- 👁
{"entity"=>"Brasfield & Gorrie LLC", "reason"=>"$519M DOJ obligation with $99M outlayed; track spending progress on largest award.", "trigger"=>"outlays beyond $99,380,719; 2030-01-28 end date modifications"}
- 👁
{"entity"=>"Booz Allen Hamilton Inc.", "reason"=>"Repeat wins totaling $129M GSA/Commerce with $60M+ options upside.", "trigger"=>"option exercises on GSA C4ISR (2026-2028) and USPTO (2026-2028)"}
- 👁
{"entity"=>"TRAX International Corporation", "reason"=>"$48M NASA Goddard with $265M ceiling and rapid $39M outlays post-2024 award.", "trigger"=>"option decisions post-2026-07-31"}
- 👁
{"entity"=>"Trane U.S. Inc.", "reason"=>"$80M GSA energy project stalled at $0 outlay despite 20-year term.", "trigger"=>"initial outlay progression; 98 conservation measure milestones"}
- 👁
{"entity"=>"The GEO Group, Inc.", "reason"=>"$60M ICE detention with $47M outlayed in early 1-year term.", "trigger"=>"completion by 2025-10-15; follow-on awards"}
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