{
  "report_rows": [
    {
      "kpi": "Q1 FY27 Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$1.04B vs. cons $1.02B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q1 FY27 Diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.93 vs. cons $0.88",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "HOKA net sales growth (YoY)",
      "prediction": "MISS",
      "answer": "pred ~+8% vs. cons ~+11%",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY27 Revenue guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~$5.86-5.91B vs. cons ~$5.90B (FY27)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY27 Diluted EPS guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~$7.30-7.45 vs. cons ~$7.42 (FY27)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY27 Gross margin guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~56.5% vs. cons ~56.7% (FY27)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 FY27 EPS/revenue framing (implied)",
      "prediction": "LOWER",
      "answer": "implied Q2 EPS ~$1.35 vs. cons ~$1.45 (Q2 FY27)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 4.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.5,
  "day5_path": "FADE",
  "day5_rationale": "Base case is a classic DECK beat-and-maintain: revenue tops ~$1.02B cons and EPS beats the pre-warned $0.82-0.87 guide (cons $0.88), triggering an initial relief pop on a coiled, high-beta name off its lows. But the beat is low-quality \u2014 driven partly by buybacks and messy HOKA wholesale-ship timing \u2014 while management holds (not raises) the deliberately-reset FY27 framework that embeds H1 margin compression, decelerating HOKA growth, and gross-margin down YoY on tariffs/freight. Out-period math (implied Q2/H2 margin drag) caps upward EPS revisions and pulls back-half estimates down even after the beat, so the day-1 gain partially gives back over the week. Wide distribution given DECK's history of \u00b115-19% earnings gaps.",
  "day5_confidence": "MEDIUM"
}