{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$2.85 vs. cons $2.70",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDA (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.52B vs. cons $1.45B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Permian (Delaware/Midland) Gathering & Processing inlet volumes (Bcf/d)",
      "prediction": "BEAT",
      "answer": "pred ~6.3 Bcf/d vs. cons ~6.1 Bcf/d",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted EBITDA guidance",
      "prediction": "BETTER",
      "answer": "guide ~$5.9-6.1B (midpoint ~$6.0B) vs. cons ~$5.85B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "LPG export loadings (Q2 2026, record quarter commentary)",
      "prediction": "BETTER",
      "answer": "guide/actual ~record ~13.5M Bbl vs. cons ~12.8M Bbl (Q2 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 growth capex",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.5B vs. cons ~$4.5B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Leverage (Net Debt/EBITDA, Q2-end)",
      "prediction": "BETTER",
      "answer": "pred ~3.4x vs. cons/prior guide ~3.6x (Q2 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.2,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.3,
  "day5_path": "STABILIZE",
  "day5_rationale": "A likely beat-and-raise (3rd straight EBITDA guide up, record LPG loadings, Permian volume inflection) should support an initial positive idiosyncratic pop, but with the stock already up ~39% YTD and near-record sell-side targets (mean ~$295, MS at $333) much of the good news is priced in, so estimate revisions get partially offset by valuation-driven profit-taking; absent a fresh multi-year EBITDA re-rate or major M&A/contract news, gains tend to stabilize rather than extend, while downside risk from lingering Waha-driven shut-ins caps a fade scenario too.",
  "day5_confidence": "LOW"
}