{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q3 FY26)",
      "prediction": "BEAT",
      "answer": "pred ~$1.91 vs. cons $1.87",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Segment Operating Income (Q3 FY26)",
      "prediction": "BEAT",
      "answer": "pred ~$5.35B vs. cons $5.24B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Experiences Segment Operating Income growth YoY",
      "prediction": "BEAT",
      "answer": "pred ~+7% vs. cons ~+5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 Adjusted EPS growth (ex-53rd week)",
      "prediction": "UNCHANGED",
      "answer": "guide ~12% vs. cons ~12% (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 Share Repurchases",
      "prediction": "UNCHANGED",
      "answer": "guide ~$8B+ vs. cons ~$8B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q4 FY26 Sports Segment Operating Income YoY",
      "prediction": "BETTER",
      "answer": "guide ~-8% vs. cons ~-14% prior guide (Q4 FY26)",
      "confidence": "LOW"
    },
    {
      "kpi": "FY27 Adjusted EPS growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~double-digit (~10%) vs. cons ~10% (FY27)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.2,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.7,
  "day5_path": "FADE",
  "day5_rationale": "An EPS/segment-OI beat driven mainly by Experiences strength and a smaller-than-guided Sports OI decline should trigger an initial relief pop given depressed sentiment and the stock's 17% YTD drawdown, but the out-period math is unfavorable: FY26 guidance (12% EPS growth, $8B buyback) is merely reaffirmed rather than raised, Q4 still faces the bulk of NFL/ESPN rights-cost step-up and integration costs, and macro/oil risk to Experiences bookings remains unresolved. As sell-side models roll into Q4/FY27 with continued Sports cost drag and cautious park-attendance commentary, initial gains are likely to be partially unwound over the following days, producing fade rather than sustained follow-through.",
  "day5_confidence": "LOW"
}