Packaged bakery food company Flower Foods (NYSE: FLO) will be reporting earnings tomorrow before market open. Here’s what to expect.

Flowers Foods missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $1.11 billion, down 1.6% year on year. It was a satisfactory quarter for the company, with full-year revenue guidance exceeding analysts’ expectations but a miss of analysts’ organic revenue estimates.

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

This quarter, analysts are expecting Flowers Foods’s revenue to grow 1.3% year on year to $1.60 billion, slowing from the 2.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.37 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Flowers Foods has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Flowers Foods’s peers in the perishable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Vital Farms delivered year-on-year revenue growth of 9.6%, meeting analysts’ expectations, and Tyson Foods reported flat revenue, falling short of estimates by 0.7%. Vital Farms traded down 6.1% following the results while Tyson Foods was also down 8.3%.

Read our full analysis of Vital Farms’s results here and Tyson Foods’s results here.

There has been positive sentiment among investors in the perishable food segment, with share prices up 2.9% on average over the last month. Flowers Foods is down 4.8% during the same time and is heading into earnings with an average analyst price target of $19.88 (compared to the current share price of $17.11).

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