- Harper Brothers - TX
- 2026
- 35
- 3
- 8.57%
- $94,042,391
- 2.32%
- 28.65%
- 8.91%
- $1,277,046,729
- Harper Brothers - CO
- 2026
- 5
- 1
- 20.00%
- $20,722,238
- 2.44%
- 50.47%
- 18.03%
- $34,916,689

The contractor holds **$23.6M** in remaining backlog across two active projects bid in late 2025 and early 2026, supporting steady cash inflows during initial mobilization and early construction phases. With a 20% success rate in 2026, limited new awards are expected to supplement revenue in this window.
Medium-term Outlook (6-12 months)
Execution of the **$20.7M** and **$30.1M** projects will continue to drive the majority of cash flow, though the 270- and 365-month durations indicate prolonged revenue recognition. Bidding activity must increase beyond the current low volume to replenish backlog and sustain operations.
Key Risk Period
The period beyond 12 months presents elevated risk due to the 20% win rate and absence of additional secured work, potentially creating cash flow gaps once current backlog is substantially burned.
Recommendations
Prioritize targeted bidding on 3-5 additional projects per quarter to restore a 50%+ success rate while closely monitoring retainage and progress billing on the existing **$23.6M** backlog.
- 15th Street Waterline Replacement
- Windsor
- $4,735,117
- 7/15/26
- 2026 Grandview Waterline Extension
- Dacono
- $2,599,996
- 6/16/26
- Skeel Reservoir Renovation
- Denver
- $6,561,624
- 5/14/26
- Swartz Irrigation Conveyance Pipeline
- Boulder City
- $297,714
- 4/13/26
- Region 4 US 6 Resurfacing STM006A-076 (26767combo)
- CDOT
- $20,722,238
- 1/15/26

