{
  "report_rows": [
    {
      "kpi": "U.S. Domestic Operating Margin (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~8.1% vs. cons 7.76%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Revenue Per Piece - U.S. Domestic (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$14.20 vs. cons $14.16",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "International Operating Margin (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~13.5% vs. cons 13.40%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY 2026 Revenue (FY2026)",
      "prediction": "LOWER",
      "answer": "guide ~$89.7B (reaffirm) vs. cons $90.4B",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY 2026 Operating Margin (FY2026)",
      "prediction": "BETTER",
      "answer": "guide ~9.6% (reaffirm) vs. cons 9.49%",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY 2026 Adj. EPS (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$7.11 (reaffirm) vs. cons $7.12",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q3 2026 U.S. Domestic Margin (3Q2026)",
      "prediction": "BETTER",
      "answer": "guide ~8.5-9.5% vs. cons ~7.6%",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 0.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -1.5,
  "day5_path": "FADE",
  "day5_rationale": "FADE - sell-side trims H2 revenue estimates on FY guide below consensus; structural margin improvement story limits the damage",
  "day5_confidence": "MEDIUM"
}