- TLC Plumbing & Utility Company
- 2026
- 5
- 2
- 40.00%
- $691,062
- 0.90%
- 5.39%
- 9.06%
- $13,955,449

TLC maintains steady cash flow from its **$76.3M** remaining backlog, supported by active 2025 awards including the **$7.6M** Isleta Boulevard and **$3.0M** Belen Great Blocks projects now in early execution. Long contract durations (60-120 months) will spread revenue recognition, requiring disciplined progress billing to cover mobilization costs on multiple concurrent utility and road jobs.
Medium-term Outlook (6-12 months)
Execution of the four 2025 low bids totaling **$24.2M** plus carryover from 2024 wins should sustain operations through mid-2026, though the current 0% success rate on 2026 bids signals limited new backlog additions. Cash inflows will remain front-loaded from existing contracts but may moderate without fresh awards.
Key Risk Period
The 2026 bidding cycle presents the primary risk, with zero wins to date against **$8.3M** in submissions and a declining success rate trajectory from 62.5% in 2024 to 44.4% in 2025. Extended project durations further amplify exposure to cost escalation and delayed payments over the next 12 months.
Recommendations
Prioritize targeted bid submissions on 3-5 high-probability NM municipal utility projects monthly while tightening markup strategies to restore win rates above 40%. Implement monthly backlog burn reviews tied to cash flow forecasting to protect working capital through the current low-bid environment.
- Nicklaus Drive ADA Ramp Remediation
- Rio Rancho
- $133,291
- 4/23/26
- Water System Performance Improvements 1
- Truth Consequences
- $4,919,654
- 3/19/26
- Water Meter Replacement
- Truth Consequences
- $557,771
- 3/12/26
- WWTP Compost Pad Expansion
- Farmington
- $647,272
- 3/3/26
- Construction Services 4th Street Road DIET Reconstruction
- Bernalillo County
- $7,697,461
- 2/11/26

