{
  "report_rows": [
    {
      "kpi": "Adjusted diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$6.25 vs. cons $6.15",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Operating revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$50.05B vs. cons $49.90B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Benefit expense ratio",
      "prediction": "MISS",
      "answer": "pred ~87.3% vs. cons 87.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted diluted EPS guidance",
      "prediction": "LOWER",
      "answer": "guide ~$26.75 vs. cons $26.95 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 Medicare Advantage operating margin",
      "prediction": "UNCHANGED",
      "answer": "guide ~2.0% vs. cons 2.0% (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 Medicaid operating margin",
      "prediction": "UNCHANGED",
      "answer": "guide ~-1.75% vs. cons -1.75% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2027 adjusted EPS growth outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~12.0% vs. cons 12.0% (FY2027)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -4.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -6.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A modest ~$6.25 EPS beat versus ~$6.15 consensus is likely outweighed by a ~87.3% benefit-expense ratio versus ~87.0% expected and FY2026 EPS guidance held at ~$26.75 versus ~$26.95 consensus. That preserves the reported floor but implies lower back-half/out-period earnings power, pulling FY2026 and FY2027 estimates lower after the print.",
  "day5_confidence": "MEDIUM"
}