{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.27 vs. cons $1.20",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net Revenue (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$3.95B vs. cons $3.93B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted Gross Margin (Q2 2026, YoY bps)",
      "prediction": "BEAT",
      "answer": "pred ~+330bps YoY (~32.3%) vs. cons/guide ~+300bps (~32.0%)",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted EPS guidance range",
      "prediction": "BETTER",
      "answer": "guide ~$5.00-$5.75 (narrowed/raised low end) vs. cons ~$5.25 midpoint of prior $4.90-$5.70 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Full-year adjusted gross margin trajectory (path to 35%+ by Q4'26)",
      "prediction": "UNCHANGED",
      "answer": "guide ~35%+ exit rate reaffirmed vs. cons ~34.8% (Q4 2026 exit)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 2026 organic growth / Tools & Outdoor cadence commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~low-single-digit organic growth reiterated vs. cons ~+2% organic (Q3 2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Tariff/inflation net-neutral offset assumption for FY2026",
      "prediction": "UNKNOWN",
      "answer": "guide ~net-neutral (tariff tailwind offset by battery metals/tungsten/resin inflation) reaffirmed vs. cons assuming same net-neutral ~0% net impact (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": -4.5,
  "day5_path": "FADE",
  "day5_rationale": "Stock has run up ~24% YTD and ~8% in the week pre-print, trading above most sell-side targets ($84-92 vs $94 spot), so even a clean beat-in-line-with-high-end-of-guide result is largely priced in ('sell the news'). Because FY guidance is likely only reaffirmed/modestly raised rather than raised in proportion to the Q2 beat (mirroring the Q1 pattern where the CAM-related EPS neutrality masked underlying momentum), the implicit 2H26 estimates get trimmed by the sell-side even after a Q2 beat, pulling consensus full-year EPS down slightly and causing follow-on selling/fade over the week as analysts true-up back-half numbers to the reaffirmed range rather than extrapolating Q2's outperformance.",
  "day5_confidence": "LOW"
}