{
  "report_rows": [
    {
      "kpi": "Core Operating EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.32 vs. cons $1.265",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$4.95B vs. cons $4.856B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY 2026 Implied H2 Core EPS",
      "prediction": "MISS",
      "answer": "pred ~$3.31 implied vs. cons $3.63",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY 2026 Core EPS (full year)",
      "prediction": "UNCHANGED",
      "answer": "guide reaffirm $5.90-$6.20 vs. cons $6.125",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY 2027 Core EPS",
      "prediction": "UNCHANGED",
      "answer": "guide reaffirm $6.25-$6.65 vs. cons $6.525",
      "confidence": "HIGH"
    },
    {
      "kpi": "Wildfire Legislation / SB 254 Phase 2",
      "prediction": "UNCHANGED",
      "answer": "cautious optimism, no resolution; tone unchanged vs. elevated expectations",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -2.5,
  "day5_path": "FADE",
  "day5_rationale": "FADE -- H2 estimate cuts pull estimates lower; legislative optionality (Aug 31 deadline) partially offsets but does not reverse",
  "day5_confidence": "MEDIUM"
}