{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.04 vs. cons $0.99",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Chicken adj. operating income",
      "prediction": "BEAT",
      "answer": "pred ~$500M vs. cons ~$460M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Beef adj. operating income (loss)",
      "prediction": "MISS",
      "answer": "pred ~$(150)M vs. cons ~$(110)M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 total adjusted operating income",
      "prediction": "BETTER",
      "answer": "guide ~$2.30-2.50B vs. cons ~$2.35B (FY26)",
      "confidence": "LOW"
    },
    {
      "kpi": "FY26 Chicken segment guide",
      "prediction": "BETTER",
      "answer": "guide ~$2.00-2.15B vs. cons ~$1.98B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 Beef segment loss guide",
      "prediction": "LOWER",
      "answer": "guide ~$(500)M-$(400)M vs. cons ~$(420)M (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY27 Beef framing (Mexico border reopening/herd rebuild)",
      "prediction": "UNKNOWN",
      "answer": "guide benefit ~FY27+ vs. cons ~0 modeled in FY26 (FY27)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": -1.0,
  "day5_path": "FADE",
  "day5_rationale": "A likely EPS beat led by Chicken/Prepared drives an initial pop, but the out-period math is unforgiving: FY26 guide implies an aggressive back-half (much smaller 2H beef loss, Q4-heavy chicken), the Mexico cattle-border reopening (~Aug 24) is too late to help the June quarter or FY26, and consensus revisions have been drifting down. With sentiment neutral/'show-me' and the pre-print fade (-4.4% on 7/31 after the border pop), a deeper Beef loss plus cautious FY27 framing pull estimates and the stock back down after Day 1.",
  "day5_confidence": "MEDIUM"
}