{
  "report_rows": [
    {
      "kpi": "EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$2.34 vs. cons $2.36",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net new orders",
      "prediction": "MISS",
      "answer": "pred ~7,150 homes vs. cons 7,383 homes",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Home sale gross margin",
      "prediction": "IN-LINE",
      "answer": "pred ~24.2% vs. cons 24.3%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 closings",
      "prediction": "LOWER",
      "answer": "guide ~28,250 homes vs. cons 28,750 homes (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 average selling price",
      "prediction": "UNCHANGED",
      "answer": "guide ~$555,000 vs. cons $555,000 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 home sale gross margin",
      "prediction": "UNCHANGED",
      "answer": "guide ~24.7% vs. cons 24.7% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 operating cash flow",
      "prediction": "LOWER",
      "answer": "guide ~$0.9B vs. cons $1.0B (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -5.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -7.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A ~500-home FY26 closing-guide cut versus the prior ~28,750-home expectation and softer ~7,150 orders versus 7,383 consensus would outweigh an essentially in-line ~$2.34 EPS result. The reduced delivery base implies lower 2H26 volume and pulls FY27 revenue/EPS math lower despite broadly preserved ~24.7% FY26 gross-margin guidance.",
  "day5_confidence": "MEDIUM"
}