{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (FQ4'26)",
      "prediction": "BEAT",
      "answer": "pred ~$8.30 vs. cons ~$8.18",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total revenue (FQ4'26)",
      "prediction": "IN-LINE",
      "answer": "pred ~$5.53B vs. cons ~$5.50B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adj. segment operating margin (FQ4'26)",
      "prediction": "BEAT",
      "answer": "pred ~27.6% vs. cons ~27.4%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Initial FY27 adjusted EPS guide",
      "prediction": "LOWER",
      "answer": "guide ~$33.00 (midpoint) vs. cons ~$34.20 (FY27)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Initial FY27 organic sales growth guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~4-5% vs. cons ~5% (FY27)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 full-year adjusted EPS (confirm)",
      "prediction": "BETTER",
      "answer": "guide ~$31.35 vs. cons ~$31.20 (FY26)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY27 adj. segment margin outlook",
      "prediction": "BETTER",
      "answer": "guide ~27.5-28% vs. cons ~27.4% (FY27)",
      "confidence": "LOW"
    },
    {
      "kpi": "Filtration Group deal timing/FY27 inclusion",
      "prediction": "UNKNOWN",
      "answer": "guide close ~Nov'26, likely ex-deal FY27 base vs. cons assumes ~$9.25B/close by FY27 (FY27)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -3.5,
  "day5_path": "FADE",
  "day5_rationale": "Q4 beat is fully telegraphed (management guided it in April), so the print is a non-event; the swing factor is the initial FY27 guide, which PH historically sets conservatively and likely lands below Street EPS (and ex-Filtration), implying out-period estimate resets. With the stock at all-time highs (~$997, +40% y/y) and full valuation \u2014 plus the precedent of a ~4% drop after the record Q3 beat-and-raise \u2014 elevated expectations leave asymmetric downside. Out-period math (conservative FY27 anchor pulling FY27 numbers down even after a Q4 beat) drives continued fade over the week barring a decisively above-consensus FY27 organic/EPS framing.",
  "day5_confidence": "MEDIUM"
}