{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$0.74 vs. cons $0.76",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Net Revenue (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$3.30B vs. cons $3.37B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Macau (Sands China) Adjusted Property EBITDA (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$620M vs. cons $665M",
      "confidence": "HIGH"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted EPS trajectory (implied by mgmt commentary/analyst read-through)",
      "prediction": "LOWER",
      "answer": "guide ~$3.15 vs. cons $3.38 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Macau quarterly EBITDA run-rate target (mgmt's $700M+ goal)",
      "prediction": "LOWER",
      "answer": "guide ~$660M vs. cons $700M (H2 2026 quarterly target)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Marina Bay Sands EBITDA normalization off Q1's rolling-chip peak",
      "prediction": "LOWER",
      "answer": "guide ~$650M vs. cons $700M (Q3 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -3.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -5.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A soft Macau EBITDA print (World Cup GGR air-pocket plus continued promotional/hiring investment) alongside cautious 2H margin commentary should trigger sell-side FY26 EPS and Macau EBITDA cuts in the days after the print, extending rather than reversing the initial move \u2014 this mirrors the Q1 2026 pattern where an EPS beat still produced an 8.6% next-day drop and a multi-month slide as margin concerns dominated headline results. With the stock already near 52-week lows and PTs still being trimmed into the print, the path of least resistance is further downward estimate revisions compounding the day-1 reaction rather than a snap-back.",
  "day5_confidence": "MEDIUM"
}