{
  "report_rows": [
    {
      "kpi": "Q2 adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.83 vs. cons $0.81",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 revenue",
      "prediction": "BEAT",
      "answer": "pred ~$1.43B vs. cons $1.39B",
      "confidence": "LOW"
    },
    {
      "kpi": "Weather-normalized retail demand growth",
      "prediction": "BEAT",
      "answer": "pred ~4.2% vs. cons 3.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Adjusted EPS guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.24 midpoint vs. cons $4.25 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Retail load growth guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~3.5% vs. cons 3.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Capital investment plan",
      "prediction": "BETTER",
      "answer": "guide ~$22.0B vs. cons $21.6B (2026-2030)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FFO-to-debt outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~14.5% midpoint vs. cons 14.5% (2026-2028)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Additional signed ESA target",
      "prediction": "UNCHANGED",
      "answer": "guide ~1 additional ESA vs. cons 1 (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.6,
  "day5_path": "FADE",
  "day5_rationale": "An EPS and demand beat should support the initial reaction, but unchanged FY2026 guidance implies no meaningful increase versus the ~$4.25 consensus. The 6%-8% 2027 growth framework implies roughly $4.49-$4.58 versus $4.55 consensus, limiting out-period revisions, while higher capital spending and associated equity needs temper follow-through.",
  "day5_confidence": "MEDIUM"
}