DHS Homeland Security Contracts — September 05, 2026

Only $59.1 million of the $224.5 million total obligation has been outlayed, suggesting significant unspent funds or contract modifications that could pressure margins if costs exceed fixed-price estimates.

The firm-fixed-price contract shifts cost risk to Amentum's PAE subsidiary; if operational costs for USCIS Application Support Center operations exceed estimates, margins could compress.

USCIS is a fee-funded agency, making it vulnerable to immigration policy changes that could reduce application volumes and subsequent contract funding.

The $556.6 million base-plus-options contract ceiling suggests potential for Amentum to secure additional task orders if USCIS exercises options, though only $224.5 million is obligated to date.

The USCIS contract for computer facilities management services (NAICS 541513) highlights steady demand for IT infrastructure support in civilian agencies, but fixed-price structures introduce margin risk for contractors like Amentum.

{"entity" => "Amentum Holdings Inc.", "reason" => "The $224.5 million USCIS contract has low outlay ($59.1M) and high fixed-price risk, potentially impacting revenue recognition and margins.", "trigger" => "Contract modification or extension announcement beyond September 2023; Amentum earnings call discussing USCIS contract performance"}