- B&F Contracting - AZ
- 2026
- 15
- 4
- 26.67%
- $18,737,364
- 4.56%
- 16.01%
- 14.32%
- $50,017,017
- B&F Contracting - UT
- 2026
- 5
- 0
- 0.00%
- $0
- 0.00%
- 71.77%
- 30.22%
- $6,497,891

B&F Contracting enters the period with a solid **$71M** remaining backlog, anchored by the recently awarded **$12.8M** Lift Station 61 project and multiple active JOC contracts releasing **$3.7M–$4.2M** each. Steady cash flow is expected from ongoing water and sewer rehabilitation work bid in 2025–2026, though the low 2026 win rate of only 20% limits immediate replenishment.
Medium-term Outlook (6-12 months)
Backlog drawdown will accelerate as several large JOC and CMAR programs with **$10M–$13M** remaining continue execution, supporting revenue through mid-2027. However, the sharp drop in 2026 bidding volume to **$36.9M** total and just **$16.8M** secured signals potential gaps unless win rates improve beyond the current 20%.
Key Risk Period
The primary risk window emerges in late 2026 through early 2027, when current high-remaining projects such as the **$13.3M** Medium Diameter Transmission Mains and **$11.5M** Large Diameter Sanitary Sewer Rehabilitation near completion without sufficient new awards to offset the declining success rate.
Recommendations
Prioritize targeted bidding on 3–5 additional water/wastewater JOCs in the next quarter to rebuild pipeline above **$50M**. Implement post-bid reviews to address the 0.55–3.13% margin erosion observed on recent lows and protect cash flow during the transition.
- Buckeye Fiber Optic (BKY-0(216)T)
- ADOT
- $1,953,627
- 10/23/26
- Citywide Water Main Replacement Phase 2
- Prescott
- $4,223,635
- 10/1/26
- Olsen Addition Main Replacement
- Chandler
- $3,591,945
- 9/16/26
- Statewide CCTV (888-A-(239)T)
- ADOT
- $654,116
- 9/4/26
- Tucson Mountain Park Water Line Replacement
- Pima County
- $2,680,000
- 8/25/26
- Lift Station 61 Redundant Force Main
- Phoenix
- $12,759,230
- 7/28/26
- Gila Bend Waterline Replacement
- Gila Bend
- $821,464
- 7/27/26
- PW 26 011 Well 7 7A Extension
- Avondale
- $1,324,018
- 7/23/26
- Dysart Sewer Replacement Phase II A
- Avondale
- $1,453,584
- 6/2/26
- Sweetwater Ave Sewer Relief
- Phoenix
- $4,220,650
- 4/7/26
- (JOC) Water Services Small Diameter Asset Repair Replacement
- Phoenix
- $4,000,000
- 4/2/26
- Arrowhead Meadows Water Main Replacement
- Chandler
- $4,474,375
- 2/18/26
- McDowell Rd 83rd Ave 91st Ave Lower Buckeye Rd
- Phoenix
- $1,918,797
- 2/10/26
- Schnepf Road Waterline Construction Phases 2A 3B
- Queen Creek
- $4,223,933
- 1/27/26
- Wastewater Collection System Rehabilitation 2025
- Tempe
- $1,717,643
- 1/21/26
- Statewide CCTV (888-A-(239)T)
- ADOT
- $654,116
- 11/03/26
- 500
- 0%
- -
- $654,116
- Wastewater Collection System Rehabilitation 2025
- Phoenix
- $12,759,230
- 09/26/26
- 548
- 6.6%
- $698,498
- $11,921,032
- Wastewater Collection System Rehabilitation 2025
- Avondale
- $1,324,018
- 09/21/26
- 120
- 34.2%
- $331,005
- $871,645
- Wastewater Collection System Rehabilitation 2025
- Phoenix
- $4,000,000
- 06/01/26
- 1100
- 13.9%
- $109,091
- $3,443,636
- Wastewater Collection System Rehabilitation 2025
- Phoenix
- $4,000,000
- 01/20/26
- 1700
- 16.8%
- $70,588
- $3,329,412
- Wastewater Collection System Rehabilitation 2025
- Glendale - AZ
- $3,000,000
- 01/19/26
- 1100
- 26.0%
- $81,818
- $2,220,000
- Wastewater Collection System Rehabilitation 2025
- Phoenix
- $5,000,000
- 10/29/25
- 1700
- 21.6%
- $88,235
- $3,917,647
- Wastewater Collection System Rehabilitation 2025
- El Mirage
- $3,000,000
- 04/06/25
- 1100
- 52.2%
- $81,818
- $1,434,545
- Wastewater Collection System Rehabilitation 2025
- Chandler
- $35,000,000
- 03/14/25
- 730
- 81.9%
- $1,438,356
- $6,328,767
- Wastewater Collection System Rehabilitation 2025
- Chandler
- $3,000,000
- 07/22/24
- 1400
- 59.5%
- $64,286
- $1,215,000
- Wastewater Collection System Rehabilitation 2025
- Phoenix
- $20,000,000
- 07/07/24
- 1800
- 47.1%
- $333,333
- $10,588,889
- Wastewater Collection System Rehabilitation 2025
- Phoenix
- $28,000,000
- 03/04/24
- 1700
- 57.2%
- $494,118
- $11,990,588
- Wastewater Collection System Rehabilitation 2025
- Glendale - AZ
- $15,000,000
- 01/27/24
- 1100
- 91.7%
- $409,091
- $1,240,909
- Wastewater Collection System Rehabilitation 2025
- Chandler
- $30,000,000
- 11/19/23
- 1100
- 98.0%
- $818,182
- $600,000
- $5,018,419
- $59,756,186



