- Coulson Excavating
- 2026
- 10
- 4
- 40.00%
- $12,454,540
- 11.27%
- 12.01%
- 9.14%
- $38,723,180
The contractor holds **$5.59M** in remaining backlog across four active projects bid in early 2026, supporting steady but modest cash inflows through progress billings. At a 40% success rate on **$38.7M** in 2026 bids, new awards are likely to provide only incremental near-term revenue.
Medium-term Outlook (6-12 months)
Execution of the **$5.59M** backlog will continue at a measured pace given 120-month durations, while 2025-2026 bidding volumes of **$61.6M** and **$38.7M** indicate potential for **$10-12M** in additional low bids annually. Cash flow should stabilize if win rates hold near 44-46%.
Key Risk Period
The period beyond 12 months presents the highest risk as current backlog depletes without accelerated new wins, especially with average left on low bids rising to 11.27% in 2026.
Recommendations
Prioritize bidding volume increases and margin improvement to rebuild backlog above **$10M**; monitor project burn rates closely to maintain positive cash flow through the long-duration contracts.
- 2026 Resurfacing Program PN ENM000126
- Larimer County
- $4,181,948
- 5/22/26
- Dakota Ridge Trailhead Parking
- Loveland
- $922,887
- 5/7/26
- Roadway Patch 2026
- Windsor
- $258,930
- 4/30/26
- Region 4 US 287 Intersection Improvements FSA 2873-233 (27210)
- CDOT
- $6,734,931
- 4/9/26
- Cleveland Avenue Revitalization SHO M430 006 CID No 25044
- Wellington
- $6,231,678
- 3/20/26
- 2026 Roadway Sidewalk Improvements
- Berthoud
- $923,707
- 3/19/26
- Mill Overlay
- Milliken
- $179,444
- 3/16/26
- Roadway Improvement 2026
- Windsor
- $1,781,984
- 2/26/26
- Weld County Parking Lot Removal Replacement
- Weld County
- $1,555,000
- 1/21/26
- WCR 54 13 Roundabout Project
- Weld County
- $15,952,671
- 1/16/26
- WCR 54 13 Roundabout Project
- Larimer County
- $4,181,948
- 07/21/26
- 120
- 46.7%
- $1,045,487
- $2,230,372
- WCR 54 13 Roundabout Project
- Windsor
- $258,930
- 06/29/26
- 120
- 65.0%
- $64,733
- $90,626
- WCR 54 13 Roundabout Project
- Wellington
- $6,231,678
- 05/19/26
- 120
- 99.2%
- $1,557,920
- $51,931
- $2,668,140
- $2,372,929

