{
  "report_rows": [
    {
      "kpi": "Core FFO per share (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$2.00 vs. cons $1.98",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.68B vs. cons $1.66B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDA (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$930M vs. cons $935M",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Core FFO/share guidance",
      "prediction": "BETTER",
      "answer": "guide ~$8.05-$8.15 vs. cons $8.05 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Revenue guidance",
      "prediction": "BETTER",
      "answer": "guide ~$6.70B-$6.85B vs. cons $6.70B (FY2026, incl. Teraco/Columbia consolidation)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Same-capital cash NOI growth (constant currency) guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~4.0%-5.0% vs. cons ~4.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net debt/Adjusted EBITDA leverage outlook",
      "prediction": "LOWER",
      "answer": "guide ~5.2x-5.5x pro forma vs. prior trajectory of ~4.5x-4.7x (post Blackstone NoVA/Teraco/Columbia deals, YE2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.0,
  "day1_confidence": "LOW",
  "day5_residual_pct": -0.5,
  "day5_path": "FADE",
  "day5_rationale": "A likely headline beat on Core FFO/revenue and a reaffirmed-to-modestly-raised FY26 guide should drive an initial relief pop given the stock's 14% drawdown into the print, but the quarter's heavy debt+equity-funded M&A (Blackstone NoVA, Teraco, Columbia, Kansas City land) raises share count and pushes leverage back up from the 4.7x multiyear low just as accretion from these deals is explicitly framed as a 2027-2028 story, not 2026. Analysts are likely to trim near-term per-share accretion/leverage assumptions even after a beat (implicit out-period cut), causing the initial pop to fade over the following days as the dilution/leverage math gets digested on desks and in updated models.",
  "day5_confidence": "LOW"
}