Guidance decision
A beat without a guidance raise caps the post-earnings repricing, so the gain fades Q2 FY26 beat rev · adj EPS · comps above consensus 1 open +2% intraday high 2 price = fwd EPS × multiple 3 full-year guidance reaffirmed, not raised raised forward path unchanged forward path lifts 4 5 frozen housing market no multiple expansion 6 new forward path → re-rating basis 7 repricing sticks higher close gain fades flat-to-lower close