- Hudick Excavating HEI Civil - AZ
- 2026
- 7
- 1
- 14.29%
- $17,143,737
- 11.46%
- 30.63%
- 9.21%
- $66,475,724

The **$17.1M** remaining backlog from the single July 2026 award provides limited near-term cash flow due to the 660-month duration spreading billings thinly. With only a 14.3% success rate on seven bids, new revenue generation remains minimal. Mobilization and early progress payments on the active project will be critical to sustain operations.
Medium-term Outlook (6-12 months)
Backlog drawdown will accelerate modestly but leave the contractor exposed without additional wins, given the low 14.3% bid success rate. Cash flow stability hinges on converting more of the **$66.5M** in total bids into backlog. Extended project duration continues to defer substantial collections.
Key Risk Period
The 660-month contract duration creates a prolonged risk window for cash flow gaps and potential project delays beyond 12 months. Low win rates compound exposure if the current **$17.1M** backlog encounters change orders or payment lags.
Recommendations
Prioritize aggressive bidding on shorter-duration projects to rebuild backlog and improve cash conversion cycles. Implement targeted win-rate enhancements and monitor monthly burn rates against the extended timeline to avoid liquidity shortfalls.
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