{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$0.68 vs. cons $0.67",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Organic net revenue growth (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~1.2% vs. cons 1.0%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Europe organic net revenue growth (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~-1.3% vs. cons -1.6%",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Organic net revenue growth guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~0%-2% vs. cons 1.5% (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Adjusted EPS growth, constant currency guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~0%-5% vs. cons 4.0% (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Free cash flow guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$3.0B vs. cons $3.0B (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 2.1,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.9,
  "day5_path": "FADE",
  "day5_rationale": "A modest Q2 beat and improving developed-market volumes support the initial reaction, but unchanged FY2026 guidance of 0%-5% adjusted constant-currency EPS growth versus ~4.0% consensus limits upgrades; reinvestment and lingering cocoa-cost pressure leave out-period estimates broadly unchanged after the beat.",
  "day5_confidence": "MEDIUM"
}