The backtest results show that ITW has a 61.54% win rate both at 3 and 30 days post-earnings beat, with a 2.05% average return over 30 days. The maximum return observed was 0.84% on day 20, indicating moderate but consistent positive performance following earnings surprises. This suggests that ITW's stock tends to respond favorably to earnings beats, though short-term gains are modest.

Investors might consider holding ITW shares for up to a month after an earnings beat to capture potential incremental returns, balancing moderate risk with steady reward.

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The backtest results show that the Machinery Industry experienced no significant impact following earnings beats, with a maximum return of only 0.71% observed on day 9. This indicates that earnings beats in this sector do not translate into meaningful price movements over the tested period.

The lack of notable returns suggests that other factors may drive stock performance in the Machinery Industry more than earnings surprises. Investors should be cautious about relying solely on earnings beats as a signal for investment decisions in this sector.

Investment strategies might benefit from incorporating additional indicators beyond earnings beats when targeting the Machinery Industry.

Backtest ITW earning beats

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