{
  "report_rows": [
    {
      "kpi": "Q2 2026 adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.20 vs. cons $2.08",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q2 2026 revenue",
      "prediction": "BEAT",
      "answer": "pred ~$852M vs. cons $840M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 organic sales growth (HVP-led)",
      "prediction": "BEAT",
      "answer": "pred ~10.5% vs. cons ~8.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 adjusted EPS (raise)",
      "prediction": "BETTER",
      "answer": "guide ~$8.75-9.05 (mid ~$8.90) vs. cons ~$8.75 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 revenue (raise)",
      "prediction": "BETTER",
      "answer": "guide ~$3.34-3.38B (mid ~$3.36B) vs. cons ~$3.35B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 adjusted operating margin",
      "prediction": "BETTER",
      "answer": "guide ~21.5-22% vs. cons ~21% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "GLP-1 component demand color",
      "prediction": "UNCHANGED",
      "answer": "guide ~mid-to-high-teens % growth vs. cons ~15% (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "H2 revenue cadence (CGM roll-off/SmartDose/West Vantage)",
      "prediction": "LOWER",
      "answer": "implied 2H organic ~5-6% vs. cons ~8% (2H2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 3.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.0,
  "day5_path": "FADE",
  "day5_rationale": "Base case is a beat-and-raise, but at ~42x forward near all-time highs the stock is priced for perfection, so the initial pop is muted and prone to give-back. The out-period math is the key drag: the year is deliberately front-half-loaded, and H2 carries a ~$40M CGM contract roll-off, the SmartDose 3.5mL divestiture step-down, and roughly flat West Vantage. Even after a Q2 beat, if the FY raise is smaller than the Q2 upside (management's 'prudent' posture), analysts trim implied 2H estimates, pulling the 5-day residual below the day-1 reaction. Fade unless a clean FY EPS raise well above the beat and strong GLP-1/Annex 1 order color re-rate the back half.",
  "day5_confidence": "LOW"
}