Freight transportation company Union Pacific (NYSE:UNP) will be reporting earnings tomorrow before market hours. Here’s what to look for.

Union Pacific met analysts’ revenue expectations last quarter, reporting revenues of $6.01 billion, flat year on year. It was a mixed quarter for the company, with a decent beat of analysts’ volume estimates but a miss of analysts’ EBITDA estimates.

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

This quarter, analysts are expecting Union Pacific’s revenue to grow 3.4% year on year to $6.14 billion, a reversal from the 9.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.78 per share.

Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 12 upward revisions over the last 30 days (we track 18 analysts). Union Pacific has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Union Pacific’s peers in the transportation and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Norfolk Southern Corporation delivered year-on-year revenue growth of 2.7%, missing analysts’ expectations by 1.2%, and CSX reported revenues up 1.3%, falling short of estimates by 1.5%. CSX traded down 6.7% following the results.

Read our full analysis of Norfolk Southern Corporation’s results here and CSX’s results here.

Investors in the transportation and logistics segment have had steady hands going into earnings, with share prices flat over the last month. Union Pacific is down 3% during the same time and is heading into earnings with an average analyst price target of $261.78 (compared to the current share price of $241.45).

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