{
  "report_rows": [
    {
      "kpi": "Adjusted diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$5.70 vs. cons $5.61",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Brokerage organic revenue growth",
      "prediction": "BEAT",
      "answer": "pred ~5.2% vs. cons 5.0%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Risk Management organic revenue growth",
      "prediction": "BEAT",
      "answer": "pred ~11.4% vs. cons 11.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 Brokerage organic-growth outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~5.5% vs. cons 5.5% (FY26)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY26 Risk Management organic-growth outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~8.0% vs. cons 8.0% (FY26)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY26 underlying Brokerage margin expansion",
      "prediction": "UNCHANGED",
      "answer": "guide ~50 bps vs. cons 50 bps (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "AssuredPartners annualized run-rate synergy target",
      "prediction": "UNCHANGED",
      "answer": "guide ~$325M vs. cons $325M (early 2028)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.4,
  "day5_path": "FADE",
  "day5_rationale": "A modest beat (~5.70 EPS versus ~$5.61 consensus) and reaffirmed ~5.5% FY26 Brokerage organic-growth outlook versus ~5.5% consensus should support an initial ~1.5% residual move, but absent a FY26 growth, margin, or AssuredPartners-synergy raise, out-period estimates should change by only ~0% to ~1%, driving a partial fade by day 5.",
  "day5_confidence": "MEDIUM"
}