- NJR Group - NC
- 2026
- 13
- 1
- 7.69%
- $14,016,733
- 4.04%
- 23.68%
- 7.88%
- $118,877,432

The **$12.2M** remaining backlog on the Cabarrus project, bid in early 2026, will drive primary cash inflows assuming standard progress billing on the 1100-month duration. Low 7.7% success rate on **$118.9M** in bids limits near-term revenue diversification despite stable project execution.
Medium-term Outlook (6-12 months)
Backlog remains concentrated at **$12.2M** with minimal additions projected from the 15.4% 2025 win rate on **$52.6M** bids, creating potential cash flow compression as the single active project advances. Sustained bidding volume may yield incremental wins but will not materially expand the pipeline without improved conversion.
Key Risk Period
The period following depletion of the current **$12.2M** backlog poses the highest exposure, given historically low win rates and absence of diversified active projects to offset revenue gaps.
Recommendations
Prioritize bid qualification processes to raise success rates above 15% and target 2-3 additional low-margin wins quarterly. Monitor monthly burn rates on the Cabarrus contract to preserve working capital ahead of the identified risk window.
- C205157 Randolph
- NCDOT
- $14,590,553
- 6/16/26
- C205197 RANDOLPH
- NCDOT
- $5,829,347
- 5/19/26
- C205138 MECKLENBURG IREDELL
- NCDOT
- $7,610,342
- 5/19/26
- C205193 RANDOLPH
- NCDOT
- $5,921,206
- 4/21/26
- C205013 Mecklenburg
- NCDOT
- $4,656,255
- 3/17/26
- Southmont Mass Grading
- Davidson County
- $22,500,000
- 2/19/26
- C205173 MONTGOMERY
- NCDOT
- $2,927,660
- 2/17/26
- C205170 ROWAN
- NCDOT
- $7,593,597
- 2/17/26
- C205095 MECKLENBURG
- NCDOT
- $9,021,091
- 2/17/26
- C205170 ROWAN (ALT)
- NCDOT
- $7,593,597
- 2/17/26
- McCullough Drive Extension
- Charlotte
- $9,519,966
- 2/6/26
- Excavation Hauling Dirt Rowan County Landfill
- Rowan County
- $7,097,085
- 2/3/26
- 46891.3.1 CABARRUS
- NCDOT
- $14,016,733
- 1/20/26


