CLIENT RESULTS · 9 STUDIES

THE NUMBERS, NOT THE FEELING.

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9 anonymized client engagements across 7 trades, from $2.3M to $25M in revenue. Every figure comes from the client's own books rather than from a survey or an estimate. Between them: four merchant cash advances cleared to zero, overdue receivables collected in four separate engagements with $365,000 the largest of them and one of the others collecting $203,000 inside a single week, two overhead rates corrected by double digits, profit sharing and bonuses paid in four companies, one business whose valuation moved from $2.3M to $5.5M in nine months without adding revenue, and one study whose outcome is visibility rather than a dollar figure, which that page states in those words. No company is identified, because a contractor's financial position is his business and not our marketing.

Read these looking for your own situation and not for the biggest number. The useful part is almost never the outcome, it's the diagnosis: what was really wrong, how long it had been wrong, and what the owner had been told was wrong instead.

EVERY STUDY

SMALLEST BUSINESS TO LARGEST.

Ordered by revenue so you can go straight to the one closest to your size. The problems don't change much with scale, but the amount of money each one costs does.

$2.3M Fiber: Visibility Into a Business That Felt Random
A $2.3M fiber splicing subcontractor couldn't predict a month. January 2026 ran $141,000 of project cost against $144,000 of revenue. Here is what was wrong.
$3.2M Electrical: $365,000 Recovered and All Debt Cleared in 120 Days
A $3.2M commercial electrical subcontractor was borrowing to cover work it had performed and never collected. No lenders left, and bonuses paid.
$3.4M Civil: From Four Merchant Cash Advances to Debt Free
A $3.4M civil subcontractor pursued $245,000 of uncollected receivables, restructured overhead, and moved gross profit from 5 percent to 33 percent.
$4.9M Concrete: $1.3M Less Revenue and More Profit
A $4.9M concrete subcontractor had priced every job against a 5 percent overhead rate that was really 12, collected $203,000 in week one, and repriced.
$5.2M SWPPP: $24,000 to $1.1M in Net Profit
A $5.2M erosion control contractor couldn't tell which sites earned. Per site job costing and a corrected overhead rate produced a 30 percent net margin.
$6.7M Grading: Overhead 30 Percent to 17, $309K in the Bank
A $6.7M grading contractor cut overhead from 30 percent to 17 percent, collected $309,000 in 30 days, and cleared a maxed $348,000 line of credit in 60.
$7.1M Civil: $310K Collected in 30 Days and the House Kept
A $7.1M turnkey civil contractor collected $310,000 of overdue receivables in 30 days, paid off two lines of credit and an SBA loan, then borrowed $750,000.
$13.1M Marine: A $2.3M Business Became a $5.5M Business in 9 Months
A $13.1M marine general contractor recovered $917,000 of annual margin on the same revenue and same crews, then revalued at a 3 times multiple in 9 months.
$25M Marine: Financial Infrastructure Built From Zero, $2.6M in Profit Sharing
A marine general contractor built job costing, WIP and cost to complete from nothing in about 90 days, and the bank balance hasn't gone under $1.2M since.
FIBER, $2.3M

VISIBILITY INTO A BUSINESS THAT FELT RANDOM.

A $2.3M fiber splicing subcontractor had skilled crews, major telecom carrier clients, and a bank account nobody could explain. Some months looked strong, some looked like a disaster, and none of it was predictable. Project costs were posting to the wrong places, so the real picture was invisible. January 2026 ran $141,000 of project cost against $144,000 of revenue, which leaves almost nothing before overhead. The owner now reads his own numbers every month and knows what his T&M rate has to be.

$141K vs $144K
January 2026 Project Cost Against Revenue
12 MONTHS
Utilization Basis for the Corrected T&M Rate
MONTHLY
Financials the Owner Now Reads Himself
2 REVENUE LINES
T&M Plus Contracted Structured Cabling

Total time from first call to a monthly close the owner reads himself: the standard 60 day onboarding. There's no debt payoff date to report on this engagement, because the outcome here is visibility and a corrected pricing basis rather than a recovery.

Read the fiber study

ELECTRICAL, $3.2M

$365,000 RECOVERED AND ALL DEBT CLEARED IN 120 DAYS.

A $3.2M commercial electrical subcontractor had a collections problem that had turned into a debt problem, borrowing to cover work that had been performed and never collected. We built job costing from scratch and put a systematic collections process in place. $365,000 of overdue receivables came in, all debt was cleared within 120 days, and the owner paid $23,000 in bonuses.

$365K
Overdue Receivables Recovered
120 DAYS
To Clear All Debt
$23K
Bonuses Paid, First in 11 Years
0
Lenders Remaining

Total time from first call to all debt cleared: 120 days. The collections routine and the billing calendar are still running, which is why the debt hasn't returned.

Read the electrical study

CIVIL, $3.4M

FROM FOUR MERCHANT CASH ADVANCES TO DEBT FREE.

A $3.4M civil subcontractor had grown fast and financed the growth with four stacked merchant cash advances, overhead at 32 percent, and gross profit at 5 percent. We rebuilt job costing, restructured overhead, and pursued $245,000 of uncollected receivables. The advances were eliminated, overhead dropped to 15 percent, and gross profit reached 33 percent.

$245K
Overdue Receivables Pursued
4 to 0
Merchant Cash Advances
32 to 15%
Overhead Rate
5 to 33%
Gross Profit

Total time from first call to the last merchant cash advance being cleared: about 12 weeks. The overhead reduction and the gross profit correction held through the following year.

Read the civil study

CONCRETE, $4.9M

$1.3M LESS REVENUE AND MORE PROFIT.

A $4.9M concrete subcontractor felt that something was wrong, because revenue kept rising and cash never reflected it. Overhead was carried on the books at 5 percent when the real number was closer to 12, so every job had been priced against a cost structure that was wrong. We collected $203,000 in the first week, corrected the rate, and rebuilt job costing.

$203K
Collected in Week One
5 to 12%
Overhead Rate Corrected
$130K
Profit Sharing Paid, First Time
$1.3M
Less Revenue, More Profit

Total time from first call to a corrected overhead rate running inside live bids: about 10 weeks. The revenue reduction and the profit increase both showed in the following full year.

Read the concrete study

SWPPP, $5.2M

$24,000 TO $1.1M IN NET PROFIT.

An erosion control and SWPPP contractor was doing $5.2M and netting $24,000. Sites weren't tracked individually, so nobody knew which ones earned and which ones consumed the earnings of the others. We built per site job costing, corrected the overhead rate, and added WIP reporting. Net profit reached $1.1M the following year.

$24K to $1.1M
Net Profit
$1,105,000
Net Profit, 2025
30%
Net Margin
$1.6M
Less Revenue Than Peak Year

Total time from first call to per site reporting running every month: about 10 weeks. The full profit result showed in the following complete year.

Read the swppp study

GRADING, $6.7M

OVERHEAD 30 PERCENT TO 17, $309K IN THE BANK.

A $6.7M contractor had a $348,000 line of credit maxed out and overhead running at 30 percent of revenue. He knew something was off and couldn't see where the money was going. We cut overhead from 30 percent to 17 percent and put a collections process in place. $309,000 was in the bank within 30 days, the $348,000 line of credit was fully paid off within 60, and the owner paid out $65,000 in bonuses.

$309K
In the Bank Within 30 Days
$348K
Line of Credit Paid Off in 60 Days
30 to 17%
Overhead Rate
$65K
Paid Out in Bonuses

Total time from first call to the $348,000 line of credit reading zero: 60 days. The first $309,000 was in the bank inside the first 30, because collecting money already owed doesn't wait for a system to be finished.

Read the grading study

CIVIL, $7.1M

$310K COLLECTED IN 30 DAYS AND THE HOUSE KEPT.

A $7.1M turnkey civil contractor had grown from $500,000 in his first year to $5M in his second, and every month the business committed money to new work faster than it collected on finished work. Two lines of credit, an SBA loan, and a personal line secured against his house were all maxed out. We built a cash flow forecast, slowed the pace of new work for two months so receivables could catch up, and overhauled billing and collections. $310,000 came in during the first 30 days, and both lines of credit and the SBA loan were paid off within 90.

$310K
Collected in the First 30 Days
90 DAYS
To Pay Off Both LOCs and the SBA Loan
$750K
Loan Approved, Unavailable Before
$300K
Cash Floor Held in the Bank

Total time from first call to both lines of credit and the SBA loan reading zero: about 90 days. The first $310,000 was collected inside the first 30, because collecting money already owed doesn't wait for a system to be finished.

Read the civil study

MARINE, $13.1M

A $2.3M BUSINESS BECAME A $5.5M BUSINESS IN 9 MONTHS.

A $13.1M marine general contractor wanted to sell, and the number wasn't there. Four accounting staff, no job costing, no per project reporting. We built the cost structure, tightened spending nobody had examined, and put twice monthly reporting on every job. Net profit went from 7 to 14 percent on the same revenue, and the valuation went from $2.3M to $5.5M.

7 to 14%
Net Profit, Same Revenue
$917K
Annual Margin Recovered
$2.3M to $5.5M
Business Valuation
9 MONTHS
Time to the New Number

Total time from first call to the revalued business: nine months. The margin recovery itself was largely complete inside the first 90 days, and the remaining six months were spent building the documented record a buyer would rely on.

Read the marine study

MARINE, $25M

FINANCIAL INFRASTRUCTURE BUILT FROM ZERO, $2.6M IN PROFIT SHARING.

A $25M marine general contractor came to us with no job costing, no WIP reporting, and no visibility at the project level. We built the entire finance function from scratch. The bank balance hasn't dropped below $1.2M since the engagement started, the business generated over $1M in net profit, and it paid out $2.6M in profit sharing.

$1.2M
Bank Floor Held Since Engagement
$2.6M
Profit Sharing Paid
$1M+
Net Profit Generated
ZERO TO FULL
Job Cost and WIP Coverage

Total time from first call to the full finance function running, meaning job costing, WIP, cost to complete, and the monthly cadence: about 90 days. The bank floor and the profit sharing followed in the first full year.

Read the marine study

HOW TO READ A CASE STUDY LIKE THIS

WHAT WE WILL NOT CLAIM.

No figure on any of these pages is a projection, a model, or an average. Each one came off a client's own financial statements, and where a number couldn't be verified it's left out rather than estimated.
None of these outcomes came from new revenue. Several came alongside revenue going down on purpose, because work priced below break even isn't revenue worth defending.
No client is identified, and no client will be. That doesn't stop at the company: the general contractors, the markets, and the projects stay out too, since any two of those identify a company in a regional trade.
Nobody is promised these results. What's repeatable is the diagnosis: job costing built against the estimate, an overhead rate that includes what the job really costs, and a forecast dated on when money really moves. What each business does with that's its own.
WHAT THEY HAVE IN COMMON

NONE OF THEM HAD A REVENUE PROBLEM.

Every business on this page was busy. Full schedules, capable crews, and general contractors who wanted to keep using them. In several of them the P&L looked acceptable right up until the bank balance didn't. That's the thing worth taking away: by the time a contractor calls a CFO, the problem has usually been misdiagnosed as a sales problem or a bookkeeping problem for two or three years.

The other thing they share is a timeline. Onboarding runs 60 days to fully operational, and in most of these engagements the first recovered money came in before that was finished, because collections on work already performed doesn't wait for a system to be complete.

WHERE TO GO NEXT
Josh Luebker, The Construction CFO
Josh Luebker
FRACTIONAL CFO · THE CONSTRUCTION CFO

Former commercial project manager and master electrician: 150+ projects worth $2.1B combined, from $50,000 to $300M. Now fractional CFO to commercial subcontractors.

YOUR NUMBERS, NOT SOMEBODY ELSE'S.

Every study here started with one call and a set of books nobody was happy with. Bring your last WIP schedule, or your last three bank statements if there's no WIP schedule.

You don't hire a CFO because it's safe, you do it because the real risk isn't having one.
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