{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.58 vs. cons $1.59",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.265B vs. cons $1.28B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "O&M Expense / Operating Margin",
      "prediction": "MISS",
      "answer": "pred ~34.5% O&M ratio (higher cost) vs. cons ~33.5% implied",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted EPS Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$6.02-$6.12 (reaffirmed) vs. cons $6.07 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Long-term EPS/Dividend Growth Algorithm",
      "prediction": "UNCHANGED",
      "answer": "guide ~7-9% vs. cons 7-9% (multi-year, through 2030)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Equity Issuance Need (post-CAMT refresh signal)",
      "prediction": "BETTER",
      "answer": "guide ~reduced/smaller forward equity plan vs. cons prior ~$1B+ annual equity assumption (FY2026-2027)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -0.6,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -0.3,
  "day5_path": "STABILIZE",
  "day5_rationale": "Q2 is a known back-half-loaded setup (PA rates effective Aug, NJ fall) so an in-line/slight-miss Q2 with reaffirmed full-year guidance shouldn't trigger material estimate cuts; the PA rate order and Nexus deal are already known positives, capping downside, while O&M cost pressure and no explicit beat limit upside, so initial modest weakness likely stabilizes rather than compounds as investors wait for H2 rate recovery and CAMT/equity update at Q3.",
  "day5_confidence": "MEDIUM"
}