{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.28 vs. cons $1.24",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Organic sales growth",
      "prediction": "IN-LINE",
      "answer": "pred ~+2.0% vs. cons +2.0%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted gross margin",
      "prediction": "MISS",
      "answer": "pred ~30.1% vs. cons 30.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted EPS midpoint",
      "prediction": "UNCHANGED",
      "answer": "guide ~$5.30 vs. cons $5.31 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 adjusted gross-margin expansion",
      "prediction": "UNCHANGED",
      "answer": "guide ~+150 bps vs. cons +150 bps (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 free-cash-flow midpoint, excluding CAM taxes and fees",
      "prediction": "UNCHANGED",
      "answer": "guide ~$800M vs. cons $805M (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "4Q26 adjusted gross-margin target",
      "prediction": "UNCHANGED",
      "answer": "guide ~35.0% vs. cons 35.0% (4Q2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -5.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -7.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "EPS is likely helped by below-the-line interest savings, while an adjusted-GM print of ~30.1% versus ~30.5% consensus questions the required margin cadence. Reaffirming a ~$5.30 FY2026 EPS midpoint versus ~$5.31 consensus leaves the second-half burden intact, so out-period estimates and the 4Q26 35.0% margin target remain vulnerable to downward revisions.",
  "day5_confidence": "MEDIUM"
}