{
  "report_rows": [
    {
      "kpi": "Q2 2026 Net Sales",
      "prediction": "BEAT",
      "answer": "pred ~$2.72B vs. cons $2.68B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 Adjusted Operating EBITDA",
      "prediction": "BEAT",
      "answer": "pred ~$540M vs. cons $525M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 Adjusted EPS ex-amortization",
      "prediction": "BEAT",
      "answer": "pred ~$1.17 vs. cons $1.14",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Net Sales guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$10.65B (midpoint of $10.5-10.8B) vs. cons $10.62B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Adjusted Operating EBITDA guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$2.10B (midpoint of $2.05-2.15B) vs. cons $2.08B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Free Cash Flow guidance/commentary",
      "prediction": "BETTER",
      "answer": "guide ~$750M (reiterated y/y improvement) vs. cons ~$700M (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "Initial pop from a likely EPS/EBITDA beat (consistent with IFF's beat history and positive Zacks ESP) should fade over the week as analysts digest reaffirmed-but-unchanged full-year guidance that still embeds a flagged sequential EBITDA step-down, lingering Middle East-driven Fine Fragrance softness, and the dilutive/complex CVC Food Ingredients divestiture overhang (12-month EPS dilution, stranded costs, ~1-year-out close). These out-period puts-and-takes typically cause sell-side models to trim H2/FY2027 estimates even after a clean beat, capping follow-through.",
  "day5_confidence": "LOW"
}