- Sanders Brothers Construction
- 2026
- 6
- 2
- 33.33%
- $22,039,422
- 4.21%
- 25.04%
- 6.82%
- $47,188,432

Sanders Brothers enters the period with **$42.4M** remaining backlog from five recently awarded contracts, including the **$13.0M** Berkeley project bid in January 2026. Long contract durations (up to 120 months) imply gradual revenue recognition and modest near-term cash inflows. Bidding activity remains limited, with only two wins recorded year-to-date at a 33.3% success rate.
Medium-term Outlook (6-12 months)
The **$22.0M** in 2026 low-bid volume provides a foundation for backlog replenishment, though overall bid volume has declined from 2025 levels. Execution of the **$9.1M** June 2026 resurfacing contract and the **$9.9M** Dorchester project will drive the majority of cash flow during this window. Margin improvement is evident, with average left on low dropping to 4.21%.
Key Risk Period
Extended contract durations create a prolonged cash conversion cycle that could strain liquidity if new awards slow further. The drop in success rate to 33.3% and reduced total bids signal potential backlog erosion beyond 12 months.
Recommendations
Prioritize acceleration of prequalification and bidding volume to restore 2025-level win rates. Monitor monthly cash draws against the **$42.4M** backlog to identify any duration-related timing gaps early.
- IFB No 6178 26C Road Work 2026 Resurfacing Plan CTC
- Charleston County SC
- $9,069,046
- 6/9/26
- 040 Dorchester
- SCDOT
- $9,606,850
- 5/12/26
- Connelly Haynes Road Improvements
- Dorchester County SC
- $1,127,335
- 3/10/26
- 050 Charleston Improvement
- SCDOT
- $13,518,297
- 3/10/26
- 050 BERKELEY
- SCDOT
- $12,970,376
- 1/13/26
- 040 BERKELEY
- SCDOT
- $896,528
- 1/13/26

