{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$6.65 vs. cons $5.66",
      "confidence": "HIGH"
    },
    {
      "kpi": "Adjusted EBITDA net of NCI",
      "prediction": "BEAT",
      "answer": "pred ~$735M vs. cons $632M",
      "confidence": "HIGH"
    },
    {
      "kpi": "Same-facility acute-care adjusted-admissions growth",
      "prediction": "BEAT",
      "answer": "pred ~2.2% vs. cons 1.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted EPS",
      "prediction": "BETTER",
      "answer": "guide ~$24.70 midpoint vs. cons $23.44 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 adjusted EBITDA net of NCI",
      "prediction": "BETTER",
      "answer": "guide ~$2.83B midpoint vs. cons $2.76B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 revenue",
      "prediction": "BETTER",
      "answer": "guide ~$18.70B midpoint vs. cons $18.54B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Exchange-coverage / bad-debt pretax headwind",
      "prediction": "UNCHANGED",
      "answer": "guide ~$75M vs. cons $75M (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 5.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 2.0,
  "day5_path": "FADE",
  "day5_rationale": "The initial ~5.5% residual gain reflects a large reported beat and a FY2026 guide increase of roughly $1.26 EPS versus $23.44 consensus. The move should fade toward ~2.0% by day five because approximately $100M of the ~$735M EBITDA quarter is retroactive Florida reimbursement, while the ~$24.70 FY2026 midpoint still implies limited improvement versus the $23.44 consensus base after investors normalize the discrete payment and reassess 2027 supplemental-payment and exchange-bad-debt exposure.",
  "day5_confidence": "MEDIUM"
}