{
  "report_rows": [
    {
      "kpi": "2Q26 net operating EPS",
      "prediction": "BEAT",
      "answer": "pred ~$3.80 vs. cons $3.74",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Health underwriting margin",
      "prediction": "BEAT",
      "answer": "pred ~$114M (25.4% of premium) vs. cons $111M (25.0% of premium)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "American Income average producing-agent count",
      "prediction": "MISS",
      "answer": "pred ~10,950 vs. cons 11,100",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 net operating EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$15.65 vs. cons $15.65 (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 share-repurchase guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$585M vs. cons $585M (FY26)",
      "confidence": "HIGH"
    },
    {
      "kpi": "3Q26 life-assumption-update pre-tax benefit",
      "prediction": "UNCHANGED",
      "answer": "guide ~$90M vs. cons $90M (3Q26)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "An EPS and health-margin beat should initially outweigh the still-weak American Income field-force metric, but unchanged FY26 EPS, buyback, and 3Q assumption-update guidance leave little incremental out-period upside. Revisions should remain restrained as investors focus on whether agent-count stabilization arrives in 2H26.",
  "day5_confidence": "MEDIUM"
}