- Steve P Rados
- 2026
- 12
- 2
- 16.67%
- $171,298,044
- 8.37%
- 47.33%
- 26.46%
- $454,344,287
Contractor faces minimal revenue generation ahead of the June 2026 project start, with only residual activity from the small **$44.8M** 2025 award and **$9.8M** 2024 award. Low historical win rates (**4.3%** in 2025 and **7.7%** in 2024) limit new backlog additions in the immediate term. Cash flow pressure is likely until mobilization begins on the primary contract.
Medium-term Outlook (6-12 months)
The **$82.9M** City Trunk Line project, bid in June 2026 with 120-month duration, will establish a stable long-term revenue base once underway. Combined with **$171.3M** in 2026 low bids and improved **22.2%** success rate, this supports backlog growth and utilization through year-end. Execution on this single large project becomes the dominant cash flow driver.
Key Risk Period
The pre-June 2026 window is the key risk period due to near-zero active backlog outside the future award and persistent low bidding success. Dependency on one extended contract heightens vulnerability to delays or mobilization issues.
Recommendations
Prioritize aggressive pursuit of mid-sized, shorter-duration projects to bridge the gap and stabilize cash flow. Maintain bidding discipline on the **$281.4M** 2026 pipeline while monitoring burn rates on the long-duration trunk line contract.
- Copper Basin Reservoir Discharge Valve Replacement
- Metropolitan Water District of Southern California
- $54,591,750
- 10/20/26
- Ramon Road Bridge Widening Project Bid 08 25
- Palm Springs
- $57,614,960
- 10/9/26
- Avenue 50 Bridge Over Coachella Valley Stormwater Channel Improvement
- Coachella
- $60,764,533
- 9/3/26
- Mills Crossing Right Of Way Infrastructure
- Rancho Cordova
- $4,796,724
- 7/16/26
- 8071 City Trunk Line North Unit 2
- Los Angeles
- $82,892,044
- 6/16/26
- Richards Boulevard Drainage Improvements
- Sacramento
- $2,707,130
- 6/3/26
- El Dorado Pump Station Rehabilitation
- Los Angeles County
- $9,341,352
- 5/12/26
- FY24 Water Line Replacement
- Hayward
- $15,535,525
- 5/5/26
- St Lukes Detention Basin
- Sacramento
- $1,684,800
- 4/29/26
- Orangewood Avenue Bridge Over Santa Ana River
- Anaheim
- $59,610,469
- 4/16/26
- Lift Station 80 03 Upgrade Cook Street
- Coachella Valley Water District
- $16,399,000
- 2/24/26
- 8070 Western Trunk Line Phase 2A
- Los Angeles
- $88,406,000
- 1/8/26

