{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$2.86 vs. cons $2.81",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Revenue (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$3.00B vs. cons $2.97B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Requisition volume growth (organic, Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~+9.0% vs. cons ~+7.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted EPS guide",
      "prediction": "BETTER",
      "answer": "guide ~$10.75-$10.95 (mid ~$10.85) vs. cons ~$10.75 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Revenue guide",
      "prediction": "BETTER",
      "answer": "guide ~$11.85-$11.98B (mid ~$11.92B) vs. cons ~$11.85B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 adj. operating margin / 2H cost cadence (Nova + fuel)",
      "prediction": "UNCHANGED",
      "answer": "guide ~15.5-16% margin, 2H-weighted costs vs. cons ~15.7% (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "Base case is a beat-and-modest-raise that pops the stock ~+2% day 1 (consistent with Q1's +4.4% residual vs. -0.65% SPY), but with shares near all-time highs (~$210, +8% into the print) and tougher comps, the initial move likely fades. Out-period math is the drag: a raise that mostly flows through the Q2 upside implies little incremental 2H, while the disclosed 2H-weighted cost step-up (Project Nova >60% of spend in 2H, ~$0.05-0.07 fuel drag, Fresenius start-up margin) caps forward-margin/EPS revisions. Expect estimates to firm on the top line but back-half EPS to hold or tick down, giving back part of the day-1 gain.",
  "day5_confidence": "LOW"
}