{
  "report_rows": [
    {
      "kpi": "Net sales",
      "prediction": "BEAT",
      "answer": "pred ~$930M vs. cons ~$920M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.12 vs. cons ~$1.12",
      "confidence": "HIGH"
    },
    {
      "kpi": "Adjusted operating income",
      "prediction": "BEAT",
      "answer": "pred ~$235M vs. cons ~$232M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted EPS",
      "prediction": "LOWER",
      "answer": "guide ~$4.70 vs. cons ~$4.78 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 sales growth",
      "prediction": "LOWER",
      "answer": "guide ~-5.5% vs. cons ~-2.9% (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Pool-channel destocking sales impact",
      "prediction": "UNCHANGED",
      "answer": "guide ~$250M vs. cons ~$250M (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -6,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Mechanical 2Q results should be near the July 14 preannouncement, but FY2026 adjusted-EPS guidance of ~$4.70 versus ~$4.78 consensus implies further estimate reductions; the ~$250M Pool destocking impact versus ~$250M expected still leaves 2027 consensus math vulnerable.",
  "day5_confidence": "MEDIUM"
}