{
  "report_rows": [
    {
      "kpi": "Q2 2026 Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$20.23B vs. cons ~$19.45B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q2 2026 Adjusted Diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$7.59 vs. cons ~$7.46",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q2 2026 Adjusted EBITDA Margin",
      "prediction": "MISS",
      "answer": "pred ~19.9% vs. cons ~20.6%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Diluted EPS Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$29.60 (mid of $28.70-30.50) vs. cons ~$29.65 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 Adjusted EBITDA Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$15.75B (mid of $15.4-16.1B) vs. cons ~$15.7B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 ACA Exchange Headwind Assumption",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.1B (mid of $1.0-1.2B) vs. cons ~$1.1B already reset post-preannouncement (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 0.7,
  "day1_confidence": "LOW",
  "day5_residual_pct": -1.2,
  "day5_path": "FADE",
  "day5_rationale": "With Q2 details and FY26 guidance already pre-announced on 7/14 (stock already down ~9%, consensus already reset), the call itself offers limited fresh surprise on the already-known numbers, so day-1 move should be muted/slightly positive on relief that nothing worse emerged. But over the following days, incremental color on the 2027 ACA exchange cliff (full EPTC expiration, no offsetting one-time Medicaid SPP catch-up expected to recur) likely prompts sell-side analysts to trim out-year (FY27) EPS estimates and price targets even without a fresh Q2 miss, producing a mild fade as the 'temporal vs. structural' debate tilts more structural in models.",
  "day5_confidence": "LOW"
}