All HHS Contracts — April 25, 2026

Hensel Phelps Construction Co won a $127,576,720 firm fixed-price delivery order from NIH for building construction in Hamilton, MT, with $36.9M already outlayed over a 3.3-year performance period through October 2027.

Leidos, Inc. received a $74,536,434 labor hours delivery order from NIH NHLBI for ARPA-H IT services, with $57M outlayed to date over a 3-year period ending September 2026 and potential ceiling of $100M.

Leidos, Inc.'s $84,122,854 firm fixed-price delivery order from NIH for OCSE federal systems IT support has $65.4M outlayed, providing ~$17.7M annual revenue through August 2026 with $16.5M options outstanding.

High fixed-price execution risks on Hensel Phelps $127.6M NIH construction and Leidos $84.1M OCSE IT awards due to performance through 2027 amid uncertain outlay pacing.

Unexercised options on Leidos $74.5M ARPA-H IT ($25.5M remaining to $100M ceiling) and Skyward Dynamics $80M CMS CCW/VRDC ($60.4M to $140.4M ceiling) expose revenue uncertainty.

Leidos, Inc. positioned for $41.9M additional obligations via options on $74.5M ARPA-H and $84.1M OCSE NIH IT awards, bolstering health IT revenue through 2026.

Skyward Dynamics $80M CMS IT award for CCW/VRDC has $60.4M options to $140.4M ceiling over potential 4.3-year extension to 2029.

NIH dominates with $286.2M across Hensel Phelps $127.6M construction and Leidos dual $158.7M IT awards for OCSE and ARPA-H, signaling sustained spending on buildings and research IT support.

CMS $80M award to Skyward Dynamics for Chronic Conditions Warehouse IT underscores steady demand for healthcare data application support.

{"entity"=>"Leidos Holdings, Inc. (LDOS)", "reason"=>"Combined $158.7M NIH IT obligations with $122.4M outlayed; tracks option exercises to $116.6M ceiling and outlay progress.", "trigger"=>"exercise of $16.5M OCSE and $25.5M ARPA-H options; performance ends August/September 2026"}

{"entity"=>"Hensel Phelps Construction Co", "reason"=>"$127.6M NIH construction with $36.9M outlayed; monitors full revenue realization over 3.3 years.", "trigger"=>"outlay beyond $36.9M; performance end October 2027 or extension to December 2027"}

{"entity"=>"SKYWARD DYNAMICS INFORMATION TECHNOLOGY, LLC", "reason"=>"$80M CMS IT obligation with $36.1M outlayed despite recent award; private but signals 8(a) JV viability.", "trigger"=>"options to $140.4M; end dates April 2027 vs 2029"}