{
  "report_rows": [
    {
      "kpi": "Adjusted EBITDA",
      "prediction": "BEAT",
      "answer": "pred ~$1.54B vs. cons $1.51B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Permian natural-gas inlet volumes",
      "prediction": "IN-LINE",
      "answer": "pred ~7.00 Bcf/d vs. cons 7.00 Bcf/d",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "LPG export loadings",
      "prediction": "BEAT",
      "answer": "pred ~15.4 MMbbl/month vs. cons 15.0 MMbbl/month",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Adjusted EBITDA outlook",
      "prediction": "LOWER",
      "answer": "guide ~$5.80B midpoint vs. cons $5.88B midpoint (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net growth capital expenditure",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.50B vs. cons $4.50B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Permian volume-growth outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~11% vs. cons 11% (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -3.5,
  "day5_path": "FADE",
  "day5_rationale": "A ~$1.54B EBITDA beat versus ~$1.51B consensus is likely attributed disproportionately to temporary LPG-export and marketing/optimization strength, while a ~$5.80B FY2026 midpoint versus ~$5.88B consensus leaves no out-period uplift. The resulting implicit 2H EBITDA math is ~$(1.54B) versus ~$(1.59B) consensus, pulling 2027 estimates lower after the initial headline beat.",
  "day5_confidence": "MEDIUM"
}