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The backtest results indicate that MMM shows a modest positive return of 1.55% over 30 days with a 58.33% win rate, while short-term gains are weak. In contrast, the Industrial Conglomerates Industry as a whole experiences no significant price impact from earnings beats, with minimal maximum returns. This suggests that MMM’s earnings beats may offer some medium-term upside, unlike the broader industry where earnings beats do not reliably affect stock prices. Investors might consider holding MMM longer post-earnings beat rather than seeking quick profits, while remaining cautious about industry-wide expectations.