{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$3.84 vs. cons $3.76",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDA excluding divested operation",
      "prediction": "BEAT",
      "answer": "pred ~$445M vs. cons $438M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total contract-value growth (FX-neutral)",
      "prediction": "MISS",
      "answer": "pred ~2.6% vs. cons 3.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted revenue guidance",
      "prediction": "LOWER",
      "answer": "guide ~$6.405B vs. cons $6.43B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 adjusted EBITDA guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.545B vs. cons $1.55B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 adjusted EPS guidance",
      "prediction": "LOWER",
      "answer": "guide ~$13.25 vs. cons $13.48 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 free-cash-flow guidance",
      "prediction": "LOWER",
      "answer": "guide ~$1.16B vs. cons $1.18B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Exit-rate total contract-value growth commentary",
      "prediction": "LOWER",
      "answer": "guide ~4.0% vs. cons 5.0% (Q4 2026 exit rate)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -7.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -10.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A modest EPS/EBITDA beat is likely to be discounted if total CV grows only ~2.6% versus ~3.5% expected and management effectively maintains FY profit and cash-flow targets below current estimates. The weaker CV conversion and less-convincing exit-rate commentary imply 2027 revenue and EPS estimate cuts, creating negative revisions after the initial reaction.",
  "day5_confidence": "MEDIUM"
}