- Blythe Construction - NC
- 2026
- 39
- 11
- 28.21%
- $124,417,795
- 5.75%
- 11.59%
- 7.34%
- $465,930,975
- Blythe Construction - SC
- 2026
- 25
- 9
- 36.00%
- $42,310,894
- 9.77%
- 10.94%
- 6.78%
- $160,410,706

Blythe Construction enters the period with **$80M** in remaining backlog, led by large active projects such as Polk (**$32M**) and Forsyth (**$19M**). Execution of these contracts should generate steady cash inflows, supported by a 26.5% bid success rate that added **$99M** in 2026 awards. Near-term liquidity appears stable provided progress billings align with the 6.15% average left on low bids.
Medium-term Outlook (6-12 months)
Backlog drawdown will accelerate as shorter-duration projects like Yadkin and Wayne reach completion, potentially reducing the **$80M** position by mid-2027. The contractor must convert its current bidding volume into additional wins to offset the drop from 2025’s **$141M** in low bids. Sustained success rates above 25% will be required to maintain positive cash flow momentum.
Key Risk Period
The 9-15 month window presents the highest exposure once the largest 2026 awards are substantially complete and only **$80M** remains. Failure to replenish the pipeline at 2025–2026 bid levels could create a cash flow gap before new work mobilizes.
Recommendations
Prioritize aggressive bidding on high-volume NC DOT lettings to restore backlog above **$120M**. Tighten monthly cash forecasting on long-duration projects and negotiate accelerated payment terms on the **$32M** Polk contract to buffer the upcoming risk period.
- C205233 WAKE
- NCDOT
- 9/15/26
- C204349 WAKE, DURHAM
- NCDOT
- 9/15/26
- C205225 Polk
- NCDOT
- 7/21/26
- C205160 FORSYTH
- NCDOT
- 6/16/26
- C204733 YADKIN
- NCDOT
- 5/19/26
- C205190 WAKE
- NCDOT
- 4/21/26
- 13 022526 City High Point Street Resurfacing 2026
- High Point
- 3/11/26
- C205168 MECKLENBURG
- NCDOT
- 2/17/26
- BP12.R002.3 CLEVELAND
- NCDOT
- 1/20/26
- 38608.3.1 WAYNE
- NCDOT
- 1/20/26
- 2026 Road Rehabilitation TID 26 01
- Apex
- 1/15/26
- C205234 ROCKINGHAM
- NCDOT
- $8,011,914
- 9/15/26
- C204349 WAKE, DURHAM
- NCDOT
- $21,049,440
- 9/15/26
- C205233 WAKE
- NCDOT
- $4,383,730
- 9/15/26
- FY27 Street Resurfacing Mill 7 Overlay
- Mooresville
- $2,449,096
- 8/25/26
- C205070 RUTHERFORD
- NCDOT
- $9,113,059
- 8/18/26
- C205225 Polk
- NCDOT
- $32,021,843
- 7/21/26
- C205157 Randolph
- NCDOT
- $13,414,717
- 6/16/26
- C205186 Rockingham
- NCDOT
- $13,284,719
- 6/16/26
- C205160 FORSYTH
- NCDOT
- $19,008,330
- 6/16/26
- C204733 YADKIN
- NCDOT
- $16,487,471
- 5/19/26
- C205197 RANDOLPH
- NCDOT
- $6,129,956
- 5/19/26
- C205200 RUTHERFORD
- NCDOT
- $7,799,401
- 5/19/26
- C205138 MECKLENBURG IREDELL
- NCDOT
- $5,797,085
- 5/19/26
- C205130 WAYNE
- NCDOT
- $21,974,634
- 4/21/26
- C204857 JOHNSTON
- NCDOT
- $13,878,501
- 4/21/26
- C205178 POLK
- NCDOT
- $24,843,910
- 4/21/26
- C205088 WAKE FRANKLIN
- NCDOT
- $20,756,165
- 4/21/26
- C205193 RANDOLPH
- NCDOT
- $6,836,740
- 4/21/26
- C205190 WAKE
- NCDOT
- $3,998,444
- 4/21/26
- Rea Road Widening I 485 Williams Pond Lane
- Charlotte
- $10,114,136
- 4/7/26
- C205165 Polk
- NCDOT
- $49,751,778
- 3/24/26
- C205038 Wake
- NCDOT
- $8,587,245
- 3/17/26
- C205179 Union
- NCDOT
- $6,113,199
- 3/17/26
- C205013 Mecklenburg
- NCDOT
- $5,414,783
- 3/17/26
- C205181 Durham/Wake
- NCDOT
- $4,926,271
- 3/17/26
- 13 022526 City High Point Street Resurfacing 2026
- High Point
- $3,208,863
- 3/11/26
- FY 2026 Street Improvements
- Cary
- $4,565,648
- 2/26/26
- C205095 MECKLENBURG
- NCDOT
- $8,656,255
- 2/17/26
- C205035 WAYNE
- NCDOT
- $33,486,011
- 2/17/26
- C204765 WAKE
- NCDOT
- $12,305,658
- 2/17/26
- C205168 MECKLENBURG
- NCDOT
- $4,786,368
- 2/17/26
- C204936 ALAMANCE
- NCDOT
- $8,299,499
- 2/17/26
- Annual Contract Resurfacing
- Raleigh
- $7,185,510
- 2/10/26
- McCullough Drive Extension
- Charlotte
- $8,311,464
- 2/6/26
- 2026CPT.05.06.10921.1 WAKE
- NCDOT
- $4,898,639
- 1/20/26
- 38608.3.1 WAYNE
- NCDOT
- $8,774,776
- 1/20/26
- 46891.3.1 CABARRUS
- NCDOT
- $14,607,187
- 1/20/26
- BP12.R002.3 CLEVELAND
- NCDOT
- $5,417,481
- 1/20/26
- 2026 Road Rehabilitation TID 26 01
- Apex
- $5,281,049
- 1/15/26
- C204349 WAKE, DURHAM
- NCDOT
- $21,049,440
- 11/14/26
- 972
- 0%
- -
- $21,049,440
- C205233 WAKE
- NCDOT
- $4,383,730
- 11/14/26
- 593
- 0%
- -
- $4,383,730
- 2026 Road Rehabilitation TID 26 01
- NCDOT
- $32,021,843
- 09/19/26
- 1100
- 1.8%
- $873,323
- $31,439,628
- 2026 Road Rehabilitation TID 26 01
- NCDOT
- $19,008,330
- 08/15/26
- 120
- 45.8%
- $4,752,083
- $10,296,179
- 2026 Road Rehabilitation TID 26 01
- NCDOT
- $16,487,471
- 07/18/26
- 120
- 69.2%
- $4,121,868
- $5,083,637
- 2026 Road Rehabilitation TID 26 01
- NCDOT
- $3,998,444
- 06/20/26
- 365
- 30.4%
- $328,639
- $2,782,479
- 2026 Road Rehabilitation TID 26 01
- NCDOT
- $5,417,481
- 03/21/26
- 1100
- 18.4%
- $147,749
- $4,422,634
- 2026 Road Rehabilitation TID 26 01
- NCDOT
- $8,774,776
- 03/21/26
- 730
- 27.7%
- $360,607
- $6,346,687
- $10,584,269
- $85,804,414




