{
  "report_rows": [
    {
      "kpi": "Q2 Total revenue",
      "prediction": "BEAT",
      "answer": "pred ~$10.85bn vs. cons $10.70bn",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 Adjusted EBITDA",
      "prediction": "BEAT",
      "answer": "pred ~$2.64bn vs. cons $2.60bn",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.06 vs. cons $2.03",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted EBITDA guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$8.30bn midpoint vs. cons $8.34bn (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 diluted EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$5.83 midpoint vs. cons $5.96 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Arcosa pro-forma net-debt-to-Adjusted-EBITDA commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~2.4x vs. cons 2.4x (Q1 2027 closing)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.3,
  "day5_path": "FADE",
  "day5_rationale": "A ~$2.64bn Q2 Adjusted EBITDA result versus $2.60bn consensus supports an initial positive reaction, but an unchanged ~$8.30bn FY2026 EBITDA midpoint versus $8.34bn consensus implies ~$5.07bn of H2 EBITDA versus roughly $5.15bn implied by consensus. The modest out-period shortfall, together with unchanged ~$5.83 FY EPS midpoint versus $5.96 consensus and ongoing Arcosa financing scrutiny, should limit estimate revisions and fade the initial beat.",
  "day5_confidence": "MEDIUM"
}