{
  "report_rows": [
    {
      "kpi": "Adjusted Diluted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$3.48 vs. cons $3.27",
      "confidence": "HIGH"
    },
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$8.75B vs. cons $8.55B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Total Backlog (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$51.3B vs. cons $50.4B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Revenue Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$35.4-35.9B (midpoint $35.65B) vs. cons ~$35.1B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Adjusted Diluted EPS Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$14.20-14.85 (midpoint $14.53) vs. cons ~$14.10 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Free Cash Flow Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.60-2.10B (midpoint $1.85B) vs. cons ~$1.85B (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 6.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 2.0,
  "day5_path": "FADE",
  "day5_rationale": "PWR's consistent beat-and-raise history plus oversold conditions (stock down ~30% from May highs, -13% in the week pre-print) set up a sharp relief-rally on Day 1 if Q2 clears the high bar. But two dynamics argue for fade into Day 5: (1) Quanta's raises have historically been proportionally smaller than the magnitude of the beat (conservative guide-up discipline), so out-period FY26 EPS/revenue revisions likely rise less than the quarter's beat implies, capping follow-through; (2) the stock's recent collapse is tied to a sector-wide de-rating in AI/data-center-capex-linked infrastructure names (Vertiv miss, SK Hynix/ASML rout, Nvidia-OpenAI circular financing fears) rather than PWR-specific fundamentals, and with Meta, Microsoft, Amazon and Alphabet all reporting the same week, renewed hyperscaler capex anxiety could re-pressure PWR's multiple even after a clean beat, eroding the initial pop over the following days.",
  "day5_confidence": "LOW"
}