{
  "report_rows": [
    {
      "kpi": "Q2 adj. operating EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$0.44 vs. cons $0.43",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "H2 E EPS run-rate (seasonal glidepath)",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.35 (~47% of FY) vs. cons ~$1.34",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total operating revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$5.6B vs. cons ~$5.5B",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide $2.81\u2013$2.91 (mid $2.86) vs. cons ~$2.86 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Long-term adjusted EPS CAGR",
      "prediction": "UNCHANGED",
      "answer": "guide top-half of 5\u20137% (~6.5%) vs. cons ~6% (2025\u20132029)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Capital plan / rate-base CAGR",
      "prediction": "UNCHANGED",
      "answer": "guide $41.7B plan, ~7.9% rate-base CAGR vs. cons ~$41.7B/~7.9% (2026\u20132029)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Pennsylvania (PECO) rate-case refiling / ROE-equity-layer risk",
      "prediction": "UNKNOWN",
      "answer": "guide refiling timing TBD, ROE risk vs. cons ~9.5% ROE assumed (2026\u20132027)",
      "confidence": "LOW"
    },
    {
      "kpi": "Maryland Pepco base-rate order",
      "prediction": "UNKNOWN",
      "answer": "guide on $119.9M request, order due Aug vs. cons partial award ~$70\u201390M (2026Q3)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -0.6,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -0.8,
  "day5_path": "STABILIZE",
  "day5_rationale": "Seasonally tiny quarter with an in-line EPS and a clean reaffirmation of FY26 $2.81\u2013$2.91 leaves out-period estimates essentially unchanged \u2014 no revision engine either way. Low-beta, decoupling-heavy name trades on the PA/MD affordability-regulatory narrative, not the print; residual drift is modest and mean-reverting. Mild negative skew from PA (PECO ROE/equity-layer and credit) and any soft Pepco MD signal caps upside, so the small day-1 dip largely holds rather than compounds \u2014 stabilize near flat.",
  "day5_confidence": "MEDIUM"
}