The backtest results show that CMS has a 40% win rate across 3, 10, and 30 days following earnings beats, with minimal positive returns in the short term and negative returns over 10 and 30 days. This indicates that despite earnings beats, CMS stock tends to underperform slightly in the medium term. The maximum observed return is modest and occurs within three days. Investors should be cautious about expecting sustained gains from CMS after earnings beats and consider other factors before holding the stock long term post-earnings.

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The backtest results show that the Multi-Utilities Industry experienced a negative impact with a maximum return of -0.08% on the event day following earnings beats. This indicates that despite positive earnings surprises, the industry tends not to benefit and may even face slight declines. The analysis suggests that earnings beats in this sector do not translate into immediate positive price movements. Investors should be cautious and not assume earnings beats will lead to gains in the Multi-Utilities Industry, considering alternative factors before making investment decisions.

Backtest CMS Earning Beats

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