DOGE.gov收据墙监测：700个新发布

DOGE.gov 'Wall of Receipts'Monitor: 700 New Postings Terminations now total $586M for BAH (+$11M), $260M forLDOS (+$1M), $208M for GDIT (no new), $93M for SAIC (+$200K), $3M for CACI (no new). U.S. Machinery & ConstructionPOSITIVEU.S. Aerospace & DefenceNEUTRAL U.S. Aerospace & Defense We examined the 10,900 contract "savings" (up from 10,200) totaling $33B listed on DOGE.gov,which include contract cancellations, programmatic changes, and othershiftsaffectingfederalcontractors. Since our prior report (link), two terminations have been posted for BAH ($11M),one for LDOS ($1M), and one for SAIC ($200K). David Strauss+1 212 526 5580david.strauss@barclays.comBCI, US Joshua Korn+1 212 526 3283joshua.korn@barclays.comBCI, US Of all companies, BAH ranks sixth most impacted ($586M) and LDOS tenth ($260M). Mostimpacted are Family Endeavors, Inc. (one terminated contract totaling $2.9B), CentennialTechnologies Inc. (one terminated contract totaling $1.9B), and Accenture (32 terminatedcontracts totaling $1.8B). Srividya Vinjamuri+1 212 526 7536srividya.vinjamuri@barclays.comBCI, US $1.1B of contract savings (84 contracts, up from 80 last week) are now included for ourcompanies ($3.9B total contract value), out of $33B in total DOGE savings, including $586M forBAH (41 contracts with $1.1B total value), $260M for LDOS (19 contracts with $2.2B total value),$208M for GDIT (16 contracts with $522M total value), $93M for SAIC (six contracts with $95Mtotal value) and $3M for CACI (two contracts with $9M in total value). Benjamin Tomick+1 212 526 8926benjamin.tomick@barclays.comBCI, US To date, most (40%) of the contract value terminated for our companies is from Health andHuman Services followed by National Science Foundation (30%) and Dept of Education (8%).$4B of contracts (298) at DoD have been canceled constituting 12% of all value canceled. U.S. Machinery & ConstructionAdam Seiden, CFA+1 212 526 2212adam.seiden@barclays.comBCI, US We have identified NAICS work scopes with the most contract value canceled for our companies.Of total cancellations, Computer Systems Design Services (53%), Research and Development inthe Physical, Engineering, and Life Sciences (Except Nanotechnology and Biotechnology)(14%), Custom Computer Programming Services (11%), and Other Computer Related Services(7%). Investment SciencesTroy Li(iv)+1 212 526 1825troy.li@barclays.comBCI, US The pace of new postings slowed in May, with ~330 on average the last two weeks. Only 16 terminations for our companies have values >$10M, including five for BAH, five for GDIT,five for LDOS, and one for SAIC. In addition, 68 other cancellations <$10M have occurred. Including all postings, most value hasbeen terminated for BAH ($586M), followed by LDOS ($260M), GDIT ($208M), SAIC ($93M), andCACI ($3M). Agencies mostaffectedfor our companies include Health and Human Services (40%), NationalScience Foundation (30%), and Education (8%). FIGURE 6. DOGE.gov "Savings" by Department/Agency (Our Coverage) NAICS work scopes mostaffectedfor our companies include Computer Systems Design Services(53%), Research and Development in the Physical, Engineering, and Life Sciences (ExceptNanotechnology and Biotechnology) (14%), Custom Computer Programming Services (11%),and Other Computer Related Services (7%). Outside of our coverage, $24.4M (three) has been terminated for Peraton, $12.8M (13) for TTEK,$457K (two) for AMTM, and $50K (one) for FLR. To date, most (39%) of contract value "saved" is from USAID, followed by Defense (12%) andInterior (10%). Among contract savings, the following companies have been mostaffected: FIGURE 10. Companies with Most DOGE.gov "Savings" Source: DOGE.gov Analyst(s) Certification(s): We, Adam Seiden, CFA and David Strauss, hereby certify (1) that the views expressed in this research report accurately reflect our personal views aboutany or all of the subject securities or issuers referred to in this research report and (2) no part of our compensation was, is or will be directly orindirectly related to the specific recommendations or views expressed in this research report. Important Disclosures: Barclays Research is produced by the Investment Bank of Barclays Bank PLC and itsaffiliates(collectively and each individually, "Barclays"). Allauthors contributing to this research report are Research Analysts unless otherwise indicated. The publication date at the top of the report reflects thelocal time where the report was produced and maydifferfrom the release date provided in GMT. Availability of Disclosures: Where any companies are the subject of this research report, for current important disclosures regarding those companies please refer to https://publicresearch.barclays.com or alternatively send a written request to: Barclays Research Compliance, 745 Seventh Avenue, 13th Floor, New York, NY10019 or call +1-212-526-1072. The analysts responsible for preparing this research report have received compensation based upon var