{
  "report_rows": [
    {
      "kpi": "Core (non-GAAP) diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.39 vs. cons $0.37",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$6.35B vs. cons $6.27B",
      "confidence": "LOW"
    },
    {
      "kpi": "Non-fuel O&M expense (y/y change)",
      "prediction": "BEAT",
      "answer": "pred ~-3% vs. cons -1%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 core EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.65 vs. cons $1.65 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Long-term EPS CAGR guidance (2026-2030)",
      "prediction": "UNCHANGED",
      "answer": "guide ~9% vs. cons 9% (2026-2030)",
      "confidence": "HIGH"
    },
    {
      "kpi": "5-year capital plan",
      "prediction": "UNCHANGED",
      "answer": "guide ~$73B vs. cons $73B (2026-2030)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -0.8,
  "day1_confidence": "LOW",
  "day5_residual_pct": -2.0,
  "day5_path": "FADE",
  "day5_rationale": "Q1'26 core EPS beat consensus by ~$0.10 yet FY guide stayed at $1.64-1.66, forcing analysts to trim H2 numbers to reconcile - PCG then faded ~3% vs SPY over the next 5 days despite the beat. Same math applies now: H1 core EPS (~$0.43+$0.39=$0.82) vs unchanged FY guide implies flat-to-lower implied H2 run-rate, an implicit cut to out-quarter estimates even if Q2 itself beats. Stock also rallied +3.5% into the print (pricing in optimism/BMO $28 target), leaving little room for upside surprise, while the dominant catalyst - SB254 Phase 2 wildfire-liability reform - remains unresolved through the Aug legislative session, so 'reaffirm and wait' commentary likely disappoints an already-elevated bar.",
  "day5_confidence": "MEDIUM"
}