{
  "report_rows": [
    {
      "kpi": "Q2 2026 Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$7.30 vs. cons $7.15",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 Net Sales",
      "prediction": "IN-LINE",
      "answer": "pred ~$19.40B vs. cons $19.28B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 Free Cash Flow",
      "prediction": "MISS",
      "answer": "pred ~$150M vs. cons ~$450M",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Diluted EPS Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$29.80 (midpoint of $29.35-$30.25) vs. cons ~$29.85 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Net Sales Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$78.75B (midpoint of $77.5-80.0B) vs. cons ~$78.9B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Free Cash Flow Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$6.65B (midpoint of $6.5-6.8B) vs. cons ~$6.6B (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -0.5,
  "day5_path": "FADE",
  "day5_rationale": "An EPS beat driven by absence of new classified-program charges plus reaffirmed FY26 guidance likely sparks a relief rally on day 1 given how depressed sentiment/positioning was going in. But FCF remains soft (still below the pace needed to hit the $6.5-6.8B FY target given a negative Q1 and only modest Q2 recovery), and the FY guide implies a very back-half-loaded ramp in both margins and cash generation. As sell-side models the out-quarters, analysts are likely to trim near-term FCF/margin estimates even after a headline EPS beat, since the 'growing pains' (F-16, C-130, Sikorsky, ERP drag) aren't fully resolved \u2014 causing the initial pop to partially fade over the following days as the quality of the beat is scrutinized.",
  "day5_confidence": "LOW"
}