{
  "report_rows": [
    {
      "kpi": "Adjusted EBITDA (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$2.08B vs. cons $2.05B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$0.33 vs. cons $0.32",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Natural Gas Pipelines segment EBDA (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.46B vs. cons $1.43B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Adjusted EBITDA guidance",
      "prediction": "LOWER",
      "answer": "guide ~$8.90B vs. cons $8.92B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EPS guidance",
      "prediction": "LOWER",
      "answer": "guide ~$1.39 vs. cons $1.40 (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Year-end net debt/adjusted EBITDA",
      "prediction": "UNCHANGED",
      "answer": "guide ~3.7x vs. cons 3.7x (year-end 2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Project backlog",
      "prediction": "BETTER",
      "answer": "guide/commentary ~$10.4B vs. prior $10.1B (Q2 2026 exit)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -1.3,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -2.1,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Quarterly beats are likely offset by an implicit out-period cut: holding FY2026 adjusted EBITDA near ~$8.90B versus consensus ~$8.92B after a ~$30M Q2 beat lowers implied H2 estimates, driving modest negative revisions and follow-through.",
  "day5_confidence": "MEDIUM"
}