- Felix - AZ
- 2026
- 8
- 3
- 37.50%
- $25,000,000
- 0.00%
- 53.49%
- 18.25%
- $37,402,666
- Felix - TX
- 2026
- 2
- 0
- 0.00%
- $0
- 0.00%
- 11.45%
- 1.17%
- $133,691,250

Felix-AZ enters the near term with **$42.5M** total remaining backlog, anchored by the **$16M** Zone 4 Wells CMAR project and **$3.4M** from the April 2026 JOC contract. Multiple active JOC facilities projects deliver steady monthly billings and positive cash flow through year-end 2026.
Medium-term Outlook (6-12 months)
Remaining balances from 2025 awards, including **$2.7M** on Desert Well No 7 and over **$14M** across four JOC contracts, support continued revenue into 2027. Prior-year success rates of 66-75% provide a solid foundation for pipeline replenishment.
Key Risk Period
The window after 2024-2025 JOC contracts deplete (remaining balances **$5.8M** or less) creates exposure, especially with the 2026 win rate falling to 33.3% and limited new CMAR opportunities visible.
Recommendations
Increase bid volume on non-JOC water projects to restore backlog above **$42.5M** and reduce concentration risk in long-duration facilities contracts.
- (CMAR) Agua Fria Booster Station Phase II
- Peoria
- $5,000,000
- 8/31/26
- North Havasu Additional Tank & Distribution Line (REBID)
- Lake Havasu
- $3,022,556
- 8/12/26
- (CMAR) Zone 4 Wells Distribution System Improvements
- Glendale - AZ
- $16,000,000
- 8/10/26
- PW 26 011 Well 7 7A Extension
- Avondale
- $1,885,086
- 7/23/26
- (JOC) Water Wastewater Treatment Facilities
- Glendale - AZ
- $4,000,000
- 4/22/26
- Kearny Water Filtration Plant Improvements
- Kearny
- $2,002,675
- 3/30/26
- Crestwood Detention Basin Construction
- Mohave County
- $2,054,235
- 3/5/26
- Riata Detention Basin Construction
- Mohave County
- $3,438,114
- 3/5/26
- (CMAR) Agua Fria Booster Station Phase II
- Peoria
- $5,000,000
- 10/30/26
- 180
- 0%
- -
- $5,000,000
- (CMAR) Zone 4 Wells Distribution System Improvements
- Glendale - AZ
- $16,000,000
- 10/09/26
- 365
- 0%
- -
- $16,000,000
- Riata Detention Basin Construction
- Glendale - AZ
- $4,000,000
- 06/21/26
- 365
- 20.8%
- $328,767
- $3,167,123
- Riata Detention Basin Construction
- Mesa
- $4,513,041
- 10/27/25
- 730
- 42.9%
- $185,467
- $2,577,997
- Riata Detention Basin Construction
- Tempe
- $500,000
- 09/06/25
- 730
- 49.9%
- $20,548
- $250,685
- Riata Detention Basin Construction
- El Mirage
- $3,000,000
- 04/06/25
- 1100
- 47.0%
- $81,818
- $1,590,000
- Riata Detention Basin Construction
- Surprise
- $10,000,000
- 03/11/25
- 1800
- 30.2%
- $166,667
- $6,983,333
- Riata Detention Basin Construction
- Buckeye
- $2,000,000
- 09/21/24
- 730
- 97.9%
- $82,192
- $41,096
- Riata Detention Basin Construction
- Kingman
- $10,000,000
- 07/12/24
- 1800
- 43.6%
- $166,667
- $5,638,889
- Riata Detention Basin Construction
- Peoria
- $15,000,000
- 06/19/23
- 1800
- 65.2%
- $250,000
- $5,216,667
- $1,282,126
- $46,465,790





