{
  "report_rows": [
    {
      "kpi": "Q2 2026 Adjusted EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.51 vs. cons ~$1.52",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 Operating Revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.29B vs. cons ~$1.28B",
      "confidence": "LOW"
    },
    {
      "kpi": "YTD authorized new annualized revenue (rate-case execution)",
      "prediction": "BEAT",
      "answer": "pred ~$164M vs. prior/cons ~$89M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$6.02-$6.12 (mid $6.07) vs. cons ~$6.07 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Long-term EPS & dividend CAGR through 2030",
      "prediction": "UNCHANGED",
      "answer": "guide ~7-9% vs. cons ~8% (2026-2030)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Essential Utilities merger timing / regulatory path",
      "prediction": "UNKNOWN",
      "answer": "guide ~close end-Q1'27 (7 states) vs. cons ~end-Q1'27 (through 1Q27)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "2026 capital investment plan",
      "prediction": "UNCHANGED",
      "answer": "guide ~$3.7B vs. cons ~$3.7B (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -0.7,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -1.5,
  "day5_path": "FADE",
  "day5_rationale": "This is a deliberately H2-weighted quarter, so an in-line Q2 (~$1.51) plus a mere reaffirmation of $6.02-6.12 delivers no upward estimate revisions \u2014 out-period math stays flat, not raised. The biggest de-risking event (PA $74.9M) resolved July 16 and is already in the price, and shares rallied ~14% off the June low with a +2.6% idiosyncratic pop into the print on 7/28. With the positive catalyst pre-spent and lingering merger dilution/fixed-exchange-ratio and equity-need overhangs, the low-beta defensive name is set up for a 'sell-the-news' fade absent a positive merger/CAMT-equity surprise. Fade is capped by low utility volatility and the constructive PA/rate-case backdrop.",
  "day5_confidence": "MEDIUM"
}