JFB Construction Holdings Executes $18.8 Million Contract as General Contractor for Public High School in DeSoto County, Florida

Rhea-AI Summary

JFB Construction Holdings (Nasdaq: JFB) executed an $18.8 million contract to serve as general contractor for Phase 1 of a public high school project in DeSoto County, Florida.

The overall campus is ~100,000 sq ft on >40 acres to serve an additional 1,379 students, with the total project valued at $100 million. Construction is planned to start in mid-October 2025, with Phase 1 targeted for completion in January 2026. Management expects an immediate revenue impact in Q4 2025.

JFB cites >$34 million in working capital supporting bonding capacity. Phase 2 is valued at >$30 million and is planned to begin in June 2026.

Positive

• $18.8M contract awarded as general contractor for Phase 1
• Total project pipeline of $100M across three phases
• Working capital >$34M enhances bonding capacity
• Phase 2 contract valued at >$30M adds near-term backlog

Negative

• Phase 1 scheduled over ~3 months (mid-Oct 2025–Jan 2026), a tight build timeline

Insights

Construction Finance Analyst

JFB won an $18.8M GC contract for Phase 1 of a $100M school project; near-term revenue and multi‑phase backlog emerge.

JFB acts as general contractor on a Phase 1 contract valued at $18.8 million for the first of three phases of a public high school project whose total stated value is $100 million. The company expects Phase 1 work to begin in mid‑October 2025 and to contribute revenue in Q4 2025, with Phase 1 completion targeted for January 2026 and Phase 2 (stated value over $30 million) to start in June 2026.

As a business mechanism, this is a cash‑flow and backlog event: the immediate $18.8 million contract converts into near‑term revenue and creates a multi‑phase pipeline that management frames as a potential source of further work. The mention of working capital in excess of $34 million and enhanced bonding capacity explains why the company qualifies for larger public projects and reduces counterparty execution risk in the eyes of public owners.

Dependencies and risks include the public‑sector nature of the work, phased scheduling, and the reliance on a third‑party school developer, Building Tomorrow’s Schools, for coordination. Delays in permitting, site work, or funding shifts at the school‑district level would affect revenue timing. The stated timeline (mid‑October start and January 2026 Phase 1 completion) is aggressive for school construction; schedule slippage would shift revenue out of Q4 2025.

Concrete items to watch: confirmation of signed subcontracts and bonds (near term), any announced change orders or schedule updates before January 2026, and formal award or start notices for Phase 2 (expected to begin June 2026). Monitor quarterly reporting for recognition of Phase 1 revenue in Q4 2025 and any disclosures on margins, bonding lines, or capital allocation related to this project.

Construction of Phase 1 of Three Phases to Begin in mid-October 2025; Total Contract Valued at $100 million

Lantana, Fla., Oct. 15, 2025 (GLOBE NEWSWIRE) -- JFB Construction Holdings (Nasdaq: JFB), a real estate development and construction company focused on hospitality, commercial, industrial, and residential property development, today announced that it has executed a $18.8 million contract to act as general contractor for the first phase of construction of a public high school in DeSoto County, Florida.

“This contract is for the first of three phases of the construction and continuation of the existing campus of the high school of [a total of] approximately 100,000 square feet, over 40 acres, for an additional 1379 students,” said CEO, Joseph F. Basile, III. “This project is one of the most important contract wins for our company and the educational contracting segment of JFB, with a total project value of $100 million. It is a tremendous accomplishment for our company as it demonstrates our flexibility in being able to meet the varying needs of multiple sectors and client types. In addition, the construction of public schools will become a new avenue for JFB as the state of Florida continues preparation for the influx of residents and families from all over the country. We will be working with Building Tomorrow’s Schools, a school developer, which has coordinated the construction of over 40 schools in Florida.

“Our strong balance sheet, with over $34 million in working capital, is a leading factor in being awarded these type of contracts. There are many construction companies that would not be able to qualify for such an extensive project; however, our working capital enhances our bonding capacity, which is critical for securing larger and more complex construction projects, with lower risk to our clients. Further, it demonstrates the strength and reliability of the JFB organization and builds trust with our customers in our ability to complete projects on budget and on time.

“We believe that this project will have an immediate impact on our revenue for Q4 of 2025. We expect to start construction in mid-October 2025 and we plan to complete construction of Phase 1 in January 2026. The value of the Phase 2 contract is valued at over $30 million, on which we plan to commence construction in June 2026,” concluded Mr. Basile.

About JFB Construction Holdings
JFB Construction Holdings (“JFB”) offers generations of combined experience in residential and commercial construction and development. Having the experience of building multifamily communities, shopping centers, national franchises, and exclusive estate and equestrian homes, with over 2 million square feet of commercial and retail space, JFB provides hands-on professional expertise, which has led to the quality and production we are known for.

JFB’s reputation has been built on our clients' trust and the value we bring to each project.

JFB is proud that most of our projects are obtained through referrals and repeat customers, and that to date we have provided general contracting and construction management services in 36 U.S. states.

Caution Regarding Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law.

JFB Construction Holdings Contact:
Joseph F. Basile, III
561-582-9840.
joe@jfbconstruction.net

Investor Relations Contact:
CORE IR
Mike Mason
516 222 2560
investors@jfbconstruction.net

FAQ

What did JFB announce on October 15, 2025 about the DeSoto County high school project?

JFB announced it executed a $18.8M Phase 1 general contractor contract for a campus within a $100M total project.

When will JFB start construction for the DeSoto County Phase 1 and when is completion expected?

Construction is planned to start in mid-October 2025 with Phase 1 targeted for completion in January 2026.

How will the DeSoto County contract affect JFB's 2025 revenue and backlog?

Management expects an immediate revenue impact in Q4 2025, and the project creates backlog toward a total $100M pipeline.

What size and student capacity does the DeSoto County high school project include in JFB's contract?

The campus is approximately 100,000 sq ft on over 40 acres, adding capacity for 1,379 students.

How does JFB's balance sheet support the DeSoto County award (Nasdaq: JFB)?

JFB reported over $34M in working capital, which management says improves bonding capacity for larger projects.

When is Phase 2 of the DeSoto County school project scheduled and what is its value?

Phase 2 is planned to commence in June 2026 and is valued at more than $30M.