{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2'26)",
      "prediction": "IN-LINE",
      "answer": "pred ~$0.31 vs. cons $0.31",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDA (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$2.10B vs. cons ~$2.05B",
      "confidence": "LOW"
    },
    {
      "kpi": "Revenue (Q2'26)",
      "prediction": "MISS",
      "answer": "pred ~$4.15B vs. cons $4.29B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 Adjusted EBITDA (formal raise)",
      "prediction": "BETTER",
      "answer": "guide ~$8.85B vs. cons/budget $8.6B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 Adjusted EPS",
      "prediction": "BETTER",
      "answer": "guide ~$1.40 vs. cons $1.37 (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Project backlog",
      "prediction": "BETTER",
      "answer": "guide ~$10.5B vs. $10.1B prior (end-Q2'26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FERC certificates SSE4 + MSX / Monument close",
      "prediction": "UNKNOWN",
      "answer": "guide ~$3.5B SSE4 + ~$1.7B MSX vs. $10.1B backlog (July 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -0.7,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -1.5,
  "day5_path": "FADE",
  "day5_rationale": "Seasonally quiet in-line quarter (EPS ~$0.31, big step down from Q1's weather/one-time-aided $0.48) against a ~22x valuation that already prices the gas-supercycle narrative. A modest EBITDA raise/Monument fold-in is largely expected, so upside is capped; if FERC approvals surprise positively there is offsetting torque. Out-period math is the drag \u2014 Street trims H2 estimates as Q1 one-timers roll off and recognizes the raise is mostly carryover, not organic acceleration \u2014 pulling residuals lower into day 5.",
  "day5_confidence": "LOW"
}