{
  "report_rows": [
    {
      "kpi": "Adj. Operating EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$8.50 vs. cons $7.68",
      "confidence": "HIGH"
    },
    {
      "kpi": "Refining Adj. EBITDA (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$3.15B vs. cons $2.92B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Midstream Adj. EBITDA (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.02B vs. cons $998M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q3 Crude Utilization (Q3 2026)",
      "prediction": "LOWER",
      "answer": "guide ~low-to-mid 90s vs. cons ~100%",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY 2026 EPS trajectory (FY 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide reaffirm constructive; implied H2 ~$12.7 vs. cons $12.7",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Western Gateway Pipeline FID (2026)",
      "prediction": "BETTER",
      "answer": "guide FID announced or confirmed imminent vs. not in consensus",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 4.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 5.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FOLLOW-THROUGH \u2014 FY 2026 estimate revisions upward as sell side models the beat; Western Gateway FID is a multi-day catalyst; partially offset by Q3 utilization guide headwind pulling near-term Q3 estimates down",
  "day5_confidence": "MEDIUM"
}