{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (ex-amortization)",
      "prediction": "BEAT",
      "answer": "pred ~$1.18 vs. cons $1.14",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted Operating EBITDA",
      "prediction": "IN-LINE",
      "answer": "pred ~$540M vs. cons ~$535M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$2.65B vs. cons ~$2.64B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted Operating EBITDA guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~$2.05-2.15B (reaffirm midpoint ~$2.10B) vs. cons ~$2.10B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 Sales guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~$10.5-10.8B vs. cons ~$10.65B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "H2 recovery / Scent-Middle East cadence commentary",
      "prediction": "BETTER",
      "answer": "guide H2 EBITDA rebound off Q2 trough ~$540M vs. implied cons ~$535M (H2 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Food Ingredients/CVC $3.8B proceeds use (buybacks + ~2.5x leverage)",
      "prediction": "UNKNOWN",
      "answer": "guide ~$3.8B net proceeds, ~2.5x net leverage vs. cons ~2.5x (post-close by Q2 2027)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.5,
  "day5_path": "STABILIZE",
  "day5_rationale": "Q2 is a pre-telegraphed trough, so a modest EPS beat plus reaffirmed FY guide clears a low bar and lifts the stock ~1-2% day 1. But with shares already up ~18% YTD and near highs, and the print embedding an implicit soft Q2 (in-line EBITDA, not a raise), out-period estimates barely move \u2014 no upward revision fuel. The CVC deal and H2/Health-turnaround narrative are already priced, so the initial pop holds rather than compounds; risk of a small fade if Middle East/Fine Fragrance commentary sounds cautious. Net: stabilize near the day-1 level.",
  "day5_confidence": "LOW"
}