Executive Summary
A single civilian contract totaling $129,150,000 was awarded by the Department of the Interior's National Park Service to RECORD STEEL AND CONSTRUCTION, INC., representing 0% defense exposure in this period's aggregate. The firm fixed-price award for Canyon Village wastewater treatment rehabilitation in Yellowstone National Park signals neutral investment potential with low strength (3/10) and materiality (2/10). Dominant theme is sustained NPS spending on national park infrastructure maintenance in water/sewer construction (NAICS 237110, PSC Y1ND). Highest-conviction signal is deferred revenue recognition potential, with $0 outlayed across the $129M obligation indicating future cash flows over 1.83 years to 2028-02-14. Key risk is high pricing risk inherent to the firm fixed-price structure; watch total outlayed progress from $0.
Tracking the trend? Catch up on the prior General Federal Contracts digest from April 23, 2026.
Investment Signals(2)
- RECORD STEEL AND CONSTRUCTION, INC. Awarded $129M NPS Infrastructure Rehab Contract(LOW)▲
$129,150,000 firm fixed-price definitive contract via full and open competition for Yellowstone NP wastewater systems, with $0 outlayed signaling future revenue stream estimated at $71M annually over 1.83-year period.
- High Pricing Risk on RECORD STEEL's $129M Firm Fixed-Price Award(MEDIUM)▲
Firm fixed-price structure on $129,150,000 NPS contract exposes RECORD STEEL AND CONSTRUCTION, INC. to high pricing risk during performance from 2026-04-22 to 2028-02-14.
Risk Flags(1)
- Execution[HIGH RISK]▼
High contract pricing risk on $129,150,000 firm fixed-price award to RECORD STEEL AND CONSTRUCTION, INC. by National Park Service for Yellowstone wastewater rehab, with $0 outlayed to date.
Opportunities(1)
- ◆
RECORD STEEL AND CONSTRUCTION, INC. positioned for $129M revenue recognition from NPS wastewater infrastructure rehab contract spanning 2026-2028.
Sector Themes(1)
- ◆
Department of the Interior's National Park Service awarded $129,150,000 firm fixed-price contract to RECORD STEEL AND CONSTRUCTION, INC. for Canyon Village wastewater treatment systems in Yellowstone NP under full and open competition.
Watch List(1)
- 👁
{"entity"=>"RECORD STEEL AND CONSTRUCTION, INC.", "reason"=>"$129,150,000 NPS contract with $0 outlayed and high pricing risk; future cash flows hinge on execution over 1.83-year term.", "trigger"=>"Total outlayed progress from $0, performance milestones toward 2028-02-14, contract modifications"}
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