{
  "report_rows": [
    {
      "kpi": "Global comparable sales growth (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~+0.8% vs. cons +1.4%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "U.S. comparable sales growth (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~+0.2% vs. cons +0.95%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted diluted EPS (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$3.22 vs. cons $3.32",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 operating margin guidance",
      "prediction": "LOWER",
      "answer": "guide ~44.5% (low end of prior mid-to-high 40s range) vs. cons ~45.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 FX tailwind to EPS",
      "prediction": "BETTER",
      "answer": "guide ~$0.30 vs. prior guide midpoint $0.25 ($0.20-$0.30 range) (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Q3/H2 comparable sales trajectory commentary",
      "prediction": "LOWER",
      "answer": "guide ~+1.0% vs. cons +1.8% (Q3 2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Comp and EPS misses land below an already-lowered bar, but the bigger driver of continued weakness is out-period math: a trimmed FY26 operating margin guide (low end of mid-to-high 40s vs. ~45.5% consensus) and softer Q3 comp framing imply analysts must cut FY26/FY27 EPS estimates even if Q2 headline beats some line items via FX. Persistent beef inflation, McOpCo margin pressure, and sector-wide food-safety traffic softness are structural rather than one-quarter issues, so sell-side revisions likely continue to trend down through the week rather than mean-revert, producing follow-through rather than a fade.",
  "day5_confidence": "MEDIUM"
}