{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.69 vs. cons $0.68",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Organic net revenue growth",
      "prediction": "IN-LINE",
      "answer": "pred ~1.0% vs. cons 1.0%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted operating margin",
      "prediction": "MISS",
      "answer": "pred ~14.3% vs. cons 14.7%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 organic net revenue growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~0% to +2% vs. cons +1.0% (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 constant-currency adjusted EPS growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~0% to +5% vs. cons +2.5% (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 free cash flow",
      "prediction": "UNCHANGED",
      "answer": "guide ~$3.0B vs. cons ~$3.0B (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -3,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A small EPS beat is likely to be outweighed by a margin shortfall and unchanged FY2026 framework: implied second-half earnings recovery remains dependent on delayed cocoa-cost relief, while incremental brand investment and freight/other-cost pressure limit upside. That leaves out-period margin and EPS expectations vulnerable to downward revisions.",
  "day5_confidence": "MEDIUM"
}