{
  "report_rows": [
    {
      "kpi": "Q2 Core EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.05 vs. cons ~$1.02",
      "confidence": "LOW"
    },
    {
      "kpi": "Eaton Fire loss estimate / new reserve accrual",
      "prediction": "IN-LINE",
      "answer": "pred ~$0 new estimable range vs. cons ~$0 (no number expected)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "WRCP claims paid (cumulative, Eaton)",
      "prediction": "IN-LINE",
      "answer": "pred ~$250M paid vs. ~$100M prior-quarter run-rate",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 core EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide reaffirmed $5.90\u2013$6.20 vs. cons ~$6.05 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "2028 core EPS target / 5\u20137% CAGR",
      "prediction": "UNCHANGED",
      "answer": "guide $6.74\u2013$7.14 vs. cons ~$6.90 (FY2028)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FFO-to-debt & no-new-equity framework",
      "prediction": "UNCHANGED",
      "answer": "guide 15\u201317% FFO/debt, $0 equity vs. cons 15\u201317% (thru 2030)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "CA wildfire/affordability legislation (Aug 31 deadline) commentary",
      "prediction": "UNKNOWN",
      "answer": "guide resist ~$373M Edison share vs. $3.9B fund ask (2026 session)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": -2.5,
  "day5_path": "FADE",
  "day5_rationale": "The print itself is a non-event: a modest seasonal-Q2 core EPS beat with reaffirmed (not raised) FY26 guide provides no upward out-period revisions, so the beat does not lift the numbers. With EIX up ~30% YTD to ~$79 and a lot of the 'legislation passes / Eaton manageable' outcome already priced, the bar is high. Absence of an Eaton loss estimate plus lingering binary risk into the Aug 31 legislative window skews the 5-day drift lower as any relief pop fades back toward pre-print levels.",
  "day5_confidence": "LOW"
}