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The backtest shows DAL achieves a strong 77.78% win rate with a 4.73% average return over 30 days after beating earnings, reflecting meaningful price appreciation. In contrast, the Passenger Airlines Industry exhibits negligible impact from earnings beats, with only a 1.00% maximum return after 37 days, indicating limited market response industry-wide. This suggests that while DAL can yield notable gains following positive earnings, investors should be cautious about expecting similar returns from peers in the industry and might focus on company-specific opportunities.