- CORE Construction, Inc.
- 2026
- 3
- 3
- 100.00%
- $51,500,000
- 0.00%
- 0.00%
- 0.00%
- $51,500,000

CORE Construction maintains a solid **$43.75M** remaining backlog across five active CMAR projects, supporting steady cash flow as work advances on the **$19M** Fire Station 310 and **$14.5M** Fire Station 189. Recent 100% bid success on **$33.5M** in 2026 awards positions the firm for consistent monthly billings without immediate revenue gaps.
Medium-term Outlook (6-12 months)
Execution of the **$43.75M** backlog will continue through mid-2027, with remaining values on the **$18M** Alamar and **$12M** Buckeye projects providing sustained workload. The pattern of securing two larger contracts annually at increasing values supports backlog replenishment and positive cash flow trends.
Key Risk Period
The period beyond 12 months presents risk as current projects with long durations begin to wind down, potentially creating a revenue dip if new awards do not materialize at the **$30M+** scale seen in 2025-2026.
Recommendations
Prioritize aggressive bidding to maintain the 100% win rate and target at least **$30M** in new awards within the next six months. Implement monthly backlog reviews to align cash flow projections with actual remaining values on active projects.
- (CMAR) Cactus Park Precinct GO Bond
- Phoenix
- $18,000,000
- 11/24/26
- 730
- 0%
- -
- $18,000,000
- (CMAR) Fire Station 189
- Surprise
- $19,000,000
- 06/29/26
- 730
- 13.8%
- $780,822
- $16,371,233
- (CMAR) Fire Station 189
- Goodyear
- $14,500,000
- 04/06/26
- 730
- 25.3%
- $595,890
- $10,825,342
- (CMAR) Fire Station 189
- Buckeye
- $12,000,000
- 11/03/25
- 400
- 84.8%
- $900,000
- $1,830,000
- (CMAR) Fire Station 189
- Avondale
- $18,000,000
- 09/12/25
- 730
- 53.6%
- $739,726
- $8,358,904
- $3,016,438
- $55,385,479

