New Federal Contractors — February 22, 2026

Two contracts totaling $11.6B (77% of batch) to WRPS (Amentum) and CH2M Hill BWXT West Valley (Jacobs) provide committed revenue through 2026 with $3.8B outlayed, bolstering hazardous waste sector visibility.

$1.5B in shipbuilding and base rebuilds to Eastern Shipbuilding and RQ-AECOM JV extend to 2027 with $430M subawards, indicating sustained defense infrastructure spend.

$1.4B HHS/NIH awards to Serco, Cerus, Leidos through 2028 with $619M outlayed affirm demand for eligibility support, pathogen tech, and biomed R&D.

$445M to Booz Allen, Leidos, CACI for engineering/IT through 2029, with $415M potential options, supports multi-year fed civilian tech needs.

Hanford ($10.6B) and West Valley ($994M) contracts expire 2025-2026, risking recompetition in DOE env mgmt.

Fixed-price structures in 4 contracts ($2.7B total) expose Eastern, Serco, Leidos, RQ-AECOM to cost overruns; low outlays (<5% in several) flag delays.

$920M subawards across 1,204 transactions (avg 6% of obligations) create subcontractor dependencies in 9/10 contracts.

$870M+ unexercised options across 8 contracts (e.g., $287M CACI, $311M Eastern) could boost topline if triggered.

Follow-on potential post-2025 ends in env mgmt ($11.6B cluster) and health R&D ($1.4B) given DOE/HHS mission continuity.

Small/disadvantaged firms (Eastern, Cerus) with $1.6B awards position for set-aside pipelines in shipbuilding/biotech.

77% of value ($11.6B) in long-term cost-plus tank farm/decommissioning contracts underscores federal commitment to nuclear cleanup.

$1.5B Coast Guard focus on ships/bases to 2027 signals modernization despite fixed-price risks.

$1.4B across eligibility, pathogen tech, biomed through 2028 with 40%+ outlays shows pandemic-era priorities persist.

{"entity"=>"Amentum (WRPS Hanford)", "reason"=>"$10.6B obligation (71% batch) ends Feb 2025; $7.1B remaining key to FY26 revenue.", "trigger"=>"Recompetition RFP or extension by Q4 2024"}

{"entity"=>"Leidos Holdings (two awards)", "reason"=>"$300M combined through 2028 positions as GSA/HHS repeat player; subaward risks.", "trigger"=>"Option exercises unlocking $36M+"}

{"entity"=>"Eastern Shipbuilding", "reason"=>"$1.4B OPC ships minimal outlay ($448k) flags delays in 13-year program.", "trigger"=>"Outlay acceleration >10% quarterly"}