The backtest shows that DAL recorded a 66.67% win rate both at 3 and 30 days post-earnings beat, with a modest 0.03% return in 3 days rising to 4.23% over 30 days. The 10-day win rate was lower at 55.56%, but returns improved steadily. This suggests that DAL’s stock price generally gains over the longer term following earnings surprises, despite limited short-term moves.

The findings indicate a tendency for sustained positive momentum after earnings beats, with peak gains achievable around three weeks post-event.

Investors might benefit from holding DAL shares for up to one month after an earnings beat to capture potential appreciation.

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The backtest results reveal that the Passenger Airlines Industry exhibits virtually no impact from earnings beats, with a maximum recorded return of only 0.45% occurring 13 days after the event. This suggests that the industry's stock prices do not significantly react to positive earnings surprises. Such muted responses imply that investors may not gain substantial advantage from trading passenger airline stocks based solely on earnings beats. Consequently, portfolio strategies should consider other fundamental or market factors beyond earnings surprises when targeting this sector for investment.

Backtest DAL Earning Beats

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