{
  "report_rows": [
    {
      "kpi": "Operating EPS (Q3 FY2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.08 vs. cons $1.019",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "APT Pipeline Gross Profit (Q3 FY2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$295M vs. cons $294M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Distribution Gross Profit (Q3 FY2026)",
      "prediction": "BEAT",
      "answer": "pred ~$570M vs. cons $550M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Operating EPS (FY2026)",
      "prediction": "BETTER",
      "answer": "guide ~$8.45-$8.55 vs. cons $8.452",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Capex (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.2B reaffirmed vs. cons $4.136B",
      "confidence": "HIGH"
    },
    {
      "kpi": "APT H2 Through-System (Q4 FY2026 qualitative)",
      "prediction": "UNCHANGED",
      "answer": "modest Q4 contribution, Waha still challenged vs. embedded in $8.45 FY cons",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 2.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.5,
  "day5_path": "STABILIZE",
  "day5_rationale": "STABILIZE \u2014 initial pop holds but does not compound; marginal FY raise drives modest upward estimate revisions, offset by Waha sustainability Q&A and management declining to guide FY2027 Waha assumptions",
  "day5_confidence": "MEDIUM"
}