{
  "report_rows": [
    {
      "kpi": "Adjusted Revenue (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$12.0B vs. cons $11.8B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Adjusted EPS (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$1.94 vs. cons $1.86",
      "confidence": "HIGH"
    },
    {
      "kpi": "Segment Operating Profit Margin (Q2'26)",
      "prediction": "IN-LINE",
      "answer": "pred ~22.2% vs. cons ~22.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 Adjusted EPS guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~$7.10-7.40 (reaffirmed, midpoint ~$7.25) vs. cons ~$7.28 (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 Operating Profit guide",
      "prediction": "LOWER",
      "answer": "guide ~$9.85-10.25B trending mid-point (~$10.0B) vs. cons ~$10.15B embedding high-end (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "2H26 Departures/Oil assumption tone",
      "prediction": "LOWER",
      "answer": "guide ~flat-to-down-low-single-digit full-year departures (softening from prior flat/LSD-growth) vs. cons still modeling flat-to-slightly-positive (2H26)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.0,
  "day5_path": "FADE",
  "day5_rationale": "Q2 print itself likely beats on revenue/EPS given 95%+ pre-booked spare parts and all shop visits, but management's Q1 'would have raised' credibility sets a bar that a mere reaffirm (not a raise) will disappoint at a ~48x 2027 EPS multiple. Fresh Iran/oil escalation (Brent to $85+, risk of $110+) forces cautious 2H26/departures language rather than the prior high-end-trending confidence, so sell-side models likely trim implicit 2H26/2027 assumptions (departures, Middle East mix, DPT margin ramp) even after a Q2 beat \u2014 a classic 'good quarter, bad quality of guide' setup that fades initial enthusiasm over the following days as analysts publish updated estimates.",
  "day5_confidence": "MEDIUM"
}