{
  "report_rows": [
    {
      "kpi": "AFFO per share (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$3.02 vs. cons $2.96",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Site leasing revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$665M vs. cons $657.96M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total revenue (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$706M vs. cons $703.4M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 AFFO per share guidance",
      "prediction": "BETTER",
      "answer": "guide ~$12.05-$12.55 (mid ~$12.30) vs. cons ~$12.15 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Site leasing revenue guidance",
      "prediction": "BETTER",
      "answer": "guide ~$2,665M-$2,695M (mid ~$2,680M) vs. cons ~$2,665M (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "EchoStar + Sprint churn assumption (domestic, FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$112M combined churn vs. prior guide $112M (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net debt/EBITDA leverage trajectory (post $3.5B unsecured notes deal)",
      "prediction": "BETTER",
      "answer": "guide/actual ~6.4x vs. prior Q1 level 6.6x (Q2 2026, within 6.0x-7.0x target)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": 1.0,
  "day5_path": "FADE",
  "day5_rationale": "Beat-and-raise plus successful IG bond refinancing should drive an initial relief rally given the stock's ~20% pullback and wide gap to price targets, echoing constructive AMT/CCI reactions. But the FY26 guide raise looks modest relative to Q1's larger raise (implying H2 deceleration in domestic leasing as EchoStar/Sprint churn ($112M combined) and elevated international churn persist), leverage stays near the top of the 6.0x-7.0x target range even after the notes deal, and DISH bankruptcy/discovery proceedings remain an unresolved overhang alongside ongoing take-private speculation that has driven outsized, fundamentals-unrelated swings all summer \u2014 all of which should cap follow-through and pull the initial pop back in over the next few sessions.",
  "day5_confidence": "LOW"
}