- Four Corners Oldcastle SW Group - NM
- 2026
- 5
- 4
- 80.00%
- $8,525,657
- 33.84%
- 0.00%
- 24.08%
- $42,662,166
- Four Corners Oldcastle SW Group - CO
- 2026
- 22
- 8
- 36.36%
- $37,880,333
- 5.56%
- 12.40%
- 6.37%
- $138,024,365

The **$27.8M** remaining backlog from nine active projects bid primarily in late 2025 through mid-2026 will generate steady cash inflows, particularly from resurfacing and preservation work with substantial estimated remainders. A 36.8% success rate on **$131.6M** in 2026 bids supports continued near-term project starts. Positive cash flow is expected as these contracts convert without immediate liquidity pressure.
Medium-term Outlook (6-12 months)
Award momentum from **$98.1M** in 2025 lows and **$37.3M** year-to-date in 2026 positions the firm for backlog replenishment if bidding volume holds near prior levels of **$268.9M-$300.9M**. Conversion of the current **$27.8M** will sustain operations through year-end while new wins extend visibility. Overall revenue trajectory remains stable barring major delays.
Key Risk Period
Depletion of the modest **$27.8M** backlog without accelerated awards creates exposure in the 9-15 month window, especially given annual award volumes that previously reached **$124M**. Extended contract durations may further stretch cash conversion cycles and heighten sensitivity to bid success rates around 37%.
Recommendations
Increase bid submissions in high-volume regions to target at least **$80M** in additional 2026-2027 awards while preserving the 37-41% win rate. Implement monthly backlog burn-rate tracking tied to the **$27.8M** figure to optimize working capital draws and preempt gaps.
- Region 3 SH 386 US 50 Resurfacing STR 348A-001 (25237Combo)
- CDOT
- 6/18/26
- Pavement Preservation Program 0389
- Durango
- 5/5/26
- 2026 Contract Street Maintenance Riverside Parkway
- Grand Junction
- 4/21/26
- Region 3 US 6 HMA Resurfacing NHPP 006A-080 (27237)
- CDOT
- 3/19/26
- Orchard Avenue Safety Connectivity Project Phase 1
- Mesa County
- 3/19/26
- Region 3 US 24 Resurfacing Other Improvements STR 0241-069 (25629)
- CDOT
- 3/5/26
- Region 3 US 40 HMA Resurfacing Guardrail Improvements NHPP 0403-072 (26449)
- CDOT
- 2/19/26
- Multimodal Pathway Overlay
- Telluride
- 1/30/26
- Mesa County 32 1 2 Road Phase II Roadway Improvement
- Mesa County
- $5,313,670
- 8/11/26
- 2026 Gypsum Street Renovations Paving
- Gypsum
- $1,074,534
- 7/7/26
- Region 3 SH 386 US 50 Resurfacing STR 348A-001 (25237Combo)
- CDOT
- $9,809,976
- 6/18/26
- Region 1 SH 46 HMA Resurfacing STA R100-441 (27340)
- CDOT
- $2,747,836
- 6/4/26
- Region 3 I70 Resurfacing NHPP 0701-263 (27298)
- CDOT
- $5,721,692
- 5/7/26
- 2026 Street Alley Contract Mill Overlay
- Denver
- $9,659,120
- 5/6/26
- Pavement Preservation Program 0389
- Durango
- $2,964,324
- 5/5/26
- 2026 Contract Street Maintenance Riverside Parkway
- Grand Junction
- $505,021
- 4/21/26
- Region 1 I76 Resurfacing NHPP R100-421 (26482)
- CDOT
- $12,947,927
- 4/16/26
- Region 4 CO94 Resurfacing STA 094A-039 (27280)
- CDOT
- $12,608,476
- 4/9/26
- Region 2 Highway Intersection Improvements STR 0711-024 (25539R)
- CDOT
- $3,537,360
- 4/9/26
- LHX Runway 8 26 Rehabilitation
- La Junta
- $4,393,800
- 4/6/26
- Pines Drive Resurfacing
- Archuleta County
- $571,994
- 3/19/26
- Region 3 US 6 HMA Resurfacing NHPP 006A-080 (27237)
- CDOT
- $3,067,017
- 3/19/26
- Orchard Avenue Safety Connectivity Project Phase 1
- Mesa County
- $3,937,740
- 3/19/26
- Region 3 US 24 Resurfacing Other Improvements STR 0241-069 (25629)
- CDOT
- $12,299,613
- 3/5/26
- Region 1 C470 Resurfacing NHPP 4701-139 (25589)
- CDOT
- $17,897,554
- 2/19/26
- Region 3 US 40 HMA Resurfacing Guardrail Improvements NHPP 0403-072 (26449)
- CDOT
- $4,716,276
- 2/19/26
- Crosby Avenue Improvements
- Grand Junction
- $3,333,690
- 2/9/26
- Multimodal Pathway Overlay
- Telluride
- $580,366
- 1/30/26
- Region 1 SH 74 Surface Treatment NHPP 0741-026 (24423)
- CDOT
- $7,820,762
- 1/8/26
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- CDOT
- $12,515,617
- 1/8/26
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- CDOT
- $9,809,976
- 08/17/26
- 180
- 22.2%
- $1,634,996
- $7,629,981
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- Durango
- $2,964,324
- 07/04/26
- 120
- 69.2%
- $741,081
- $914,000
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- Grand Junction
- $505,021
- 06/20/26
- 120
- 80.8%
- $126,255
- $96,796
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- CDOT
- $12,299,613
- 05/04/26
- 150
- 96.0%
- $2,459,923
- $491,985
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- CDOT
- $4,716,276
- 04/20/26
- 180
- 87.8%
- $786,046
- $576,434
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- CDOT
- $2,440,781
- 02/16/26
- 365
- 60.5%
- $200,612
- $962,938
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- CDOT
- $12,017,516
- 02/09/26
- 300
- 76.0%
- $1,201,752
- $2,884,204
- Region 5 US 160 Surface Treatment NHPP 1602-184 (24662)
- CDOT
- $9,155,884
- 01/19/26
- 300
- 83.0%
- $915,588
- $1,556,500
- $8,066,253
- $15,112,838


