{
  "report_rows": [
    {
      "kpi": "Non-GAAP operating EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.35 vs. cons $2.32",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Principal Asset Management\u2014Investment Management pretax operating earnings",
      "prediction": "BEAT",
      "answer": "pred ~$171M vs. cons $166M",
      "confidence": "LOW"
    },
    {
      "kpi": "Specialty Benefits pretax operating earnings",
      "prediction": "MISS",
      "answer": "pred ~$108M vs. cons $113M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 non-GAAP operating EPS growth objective",
      "prediction": "UNCHANGED",
      "answer": "guide ~10.5% midpoint vs. cons 10.7% (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 share-repurchase deployment",
      "prediction": "UNCHANGED",
      "answer": "guide ~$0.95B midpoint vs. cons $0.95B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 total capital deployment",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.65B midpoint vs. cons $1.65B (FY2026)",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": 0.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.2,
  "day5_path": "FADE",
  "day5_rationale": "A modest EPS beat (~$2.35 vs. $2.32) and fee-income strength are likely offset by Specialty Benefits normalization (~$108M vs. $113M) and unchanged FY2026 EPS-growth framing (~10.5% midpoint vs. 10.7% consensus), limiting out-period estimate revisions after the initial reaction.",
  "day5_confidence": "MEDIUM"
}