{
  "report_rows": [
    {
      "kpi": "Adj. diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.01 vs. cons $0.98",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP core sales growth",
      "prediction": "IN-LINE",
      "answer": "pred ~+3.8% vs. cons +3.6%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$1,460M vs. cons $1,445M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adj. EPS guide",
      "prediction": "BETTER",
      "answer": "guide ~$4.26-$4.34 vs. cons $4.27 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 2026 adj. EPS guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.03 vs. cons $1.03 (Q3 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Q3/2H core sales growth (acceleration proof)",
      "prediction": "BETTER",
      "answer": "guide ~+4-5% vs. cons +4% (2H 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Adj. operating margin",
      "prediction": "UNCHANGED",
      "answer": "guide ~23.7% vs. cons 23.5% (Q2 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "PQI core growth recovery",
      "prediction": "BETTER",
      "answer": "pred ~+2% vs. cons +1% (Q2 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "FX / FCF conversion",
      "prediction": "BETTER",
      "answer": "FX ~neutral-to-+1% vs. -3.5% prior; FCF conv ~100% vs. cons ~95% (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 2.0,
  "day1_confidence": "LOW",
  "day5_residual_pct": 2.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A modest EPS/revenue beat with FX turning from headwind to neutral-plus and another small FY EPS raise validates the 'acceleration through the year' thesis, especially if PQI core flips positive and Water Quality holds high-single-digit growth. That drives modestly upward out-period revisions rather than the implicit cuts that trigger fades; premium ~22x multiple caps the magnitude but the recovery-momentum tape (stock +15% off lows, market rewarding execution on recent prints) supports continued drift higher.",
  "day5_confidence": "LOW"
}