{
  "report_rows": [
    {
      "kpi": "Variable Investment Income (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$265M vs. cons ~$316M (Visible Alpha, Jul 1 2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Adj. EPS Diluted Operating (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$2.30 vs. cons $2.37 (Visible Alpha, Jul 1 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Interest-Adj. Benefit Ratio - Group Benefits (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~73.5% vs. cons 73.94% (Visible Alpha, Jul 1 2026)",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY 2026 Variable Investment Income (pretax)",
      "prediction": "LOWER",
      "answer": "guide ~$1.6B reaffirmed vs. cons $1.62B (Visible Alpha, Jul 1 2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q3 2026 VII qualitative tone",
      "prediction": "UNCHANGED",
      "answer": "constructive above $400M run rate vs. cons ~$408M (Visible Alpha, Jul 1 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY 2026 Direct Expense Ratio",
      "prediction": "UNCHANGED",
      "answer": "reaffirm 12.1% target vs. cons ~12.1%",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": -4.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -2.5,
  "day5_path": "STABILIZE",
  "day5_rationale": "STABILIZE - Q3 VII recovery narrative limits downside; partial recovery as sell-side trims but does not slash estimates; high pre-run prevents full reversal",
  "day5_confidence": "MEDIUM"
}