{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.08 vs. cons $1.02",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$3.12B vs. cons $3.10B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Sempra Texas (Oncor) equity earnings contribution",
      "prediction": "BEAT",
      "answer": "pred ~$310M vs. cons $285M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 adjusted EPS guidance range",
      "prediction": "UNCHANGED",
      "answer": "guide ~$5.05 (midpoint of $4.80-$5.30, reaffirmed) vs. cons $5.03 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2027 adjusted EPS guidance range",
      "prediction": "UNCHANGED",
      "answer": "guide ~$5.40 (midpoint of $5.10-$5.70, reaffirmed) vs. cons $5.38 (FY2027)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Long-term EPS growth rate (2026-2030)",
      "prediction": "UNCHANGED",
      "answer": "guide ~8% (7-9% range reaffirmed) vs. cons ~8% (2026-2030)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Incremental Texas/Oncor large-load data-center capex opportunity",
      "prediction": "BETTER",
      "answer": "guide ~$12B incremental vs. prior flagged ~$10B (2026-2030 plan)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "ECA LNG Phase 1 substantial completion timeline",
      "prediction": "LOWER",
      "answer": "guide ~Q4 2026 vs. prior 'this summer 2026' target (FY2026)",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.6,
  "day5_path": "FADE",
  "day5_rationale": "SRE has sold off ~11% into the print (more than XLU's ~4% and roughly in line with sector-wide CA-wildfire/rate-driven utility weakness), so a clean beat-and-affirm with quantified Texas data-center capex upside and reassurance on ECA LNG/SI Partners timing should spark an initial relief bounce as idiosyncratic risk unwinds. However, the Q2 EPS beat is flattered by a one-time ~$70M Oncor PUCT catch-up (Jan-Jun) that isn't run-rate, and guidance (2026/2027 EPS, 7-9% LTG) is merely reaffirmed rather than raised, so sell-side won't materially lift out-year numbers. Lingering overhangs \u2014 unresolved ECA LNG remediation cost/timeline, SI Partners/KKR close still pending (Q3), and Newsom's wildfire-fund payout fight reintroducing CA regulatory risk for SDG&E \u2014 cap follow-through, causing the initial pop to fade over the week as the quality-of-beat gets discounted.",
  "day5_confidence": "MEDIUM"
}