{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (post-split)",
      "prediction": "BEAT",
      "answer": "pred ~$1.83 vs. cons $1.78",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Operating EBITDA",
      "prediction": "BEAT",
      "answer": "pred ~$438M vs. cons $430M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net sales",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.81B vs. cons $1.80B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 adjusted EPS guidance",
      "prediction": "LOWER",
      "answer": "guide ~$7.13 vs. cons $7.18 (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 operating EBITDA guidance",
      "prediction": "LOWER",
      "answer": "guide ~$1.745B vs. cons $1.755B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 net sales guidance",
      "prediction": "LOWER",
      "answer": "guide ~$7.185B vs. cons $7.21B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "2H26 Water organic-growth commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~high-single-digit growth (~8%) vs. cons ~8% (2H26)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.2,
  "day5_path": "FADE",
  "day5_rationale": "A modest 2Q EPS/EBITDA beat should initially support the shares, but unchanged FY26 guidance at roughly $7.13 EPS versus ~$7.18 consensus implies modest out-period estimate cuts. The market should fade part of the initial positive reaction as Water second-half project timing, construction softness, and price-cost execution remain unresolved.",
  "day5_confidence": "MEDIUM"
}