Tobacco company Altria (NYSE:MO) will be announcing earnings results tomorrow before the bell. Here’s what investors should know.

Altria missed analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $5.28 billion, down 3% year on year. It was a slower quarter for the company, with a miss of analysts’ EBITDA estimates.

Is Altria a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Altria’s revenue to be flat year on year at $5.33 billion, improving from the 2.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.35 per share.

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 3 downward revisions over the last 30 days (we track 7 analysts).

Looking at Altria’s peers in the beverages, alcohol and tobacco segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Coca-Cola posted flat year-on-year revenue, beating analysts’ expectations by 2.9%, and Boston Beer reported flat revenue, in line with consensus estimates. Coca-Cola traded down 3.1% following the results while Boston Beer was also down 1.8%.

Read our full analysis of Coca-Cola’s results here and Boston Beer’s results here.

Investors in the beverages, alcohol and tobacco segment have had steady hands going into earnings, with share prices flat over the last month. Altria is down 1.9% during the same time and is heading into earnings with an average analyst price target of $53.01 (compared to the current share price of $49.97).

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