{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$3.22 vs. cons $3.17",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Operating Ratio",
      "prediction": "MISS",
      "answer": "pred ~59.3% vs. cons 58.7% (higher/worse OR)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Operating Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$6.68B vs. cons $6.62B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 EPS growth guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~mid-single-digit reported EPS growth vs. cons mid-single-digit growth (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Operating Ratio improvement",
      "prediction": "UNCHANGED",
      "answer": "guide ~continued OR improvement (~50-100bps) vs. cons ~75bps improvement (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Fuel price assumption",
      "prediction": "LOWER",
      "answer": "guide ~$3.90-4.10/gal updated assumption vs. cons/original $2.35/gal (FY2026, i.e. a bigger headwind than originally guided)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "NS merger timeline/STB commentary",
      "prediction": "UNKNOWN",
      "answer": "guide ~STB decision still expected Q2 2027 vs. cons expectation of Q2 2027 (post July 27, 2026 supplemental filing deadline)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 0.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -0.7,
  "day5_path": "FADE",
  "day5_rationale": "Headline EPS/revenue beat likely driven by pricing/mix rather than volume, with fuel cost headwind pressuring OR exactly as flagged last quarter; any OR miss or cautious fuel/cost commentary will pull down out-quarter estimates even after a top-line beat. Additionally, the stock has run up ~25%+ YTD to near all-time highs, raising the bar for follow-through, and the STB supplemental-information deadline (July 27) sits just 4 days after the print, keeping merger-related uncertainty elevated and likely capping/reversing any initial pop as investors refocus on regulatory risk rather than the quarter itself.",
  "day5_confidence": "LOW"
}