Kitchen product manufacturer Middleby (NYSE:MIDD) will be reporting earnings tomorrow before the bell. Here’s what investors should know.

Middleby met analysts’ revenue expectations last quarter, reporting revenues of $991.5 million, down 4.7% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ operating margin estimates but a miss of analysts’ organic revenue estimates.

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

This quarter, analysts are expecting Middleby’s revenue to grow 1.6% year on year to $996.6 million, a reversal from the 1.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.48 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 8 analysts). Middleby has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Middleby’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Snap-on posted flat year-on-year revenue, beating analysts’ expectations by 7.8%, and Stanley Black & Decker reported a revenue decline of 5.1%, falling short of estimates by 1.4%. Snap-on traded up 9.4% following the results.

Read our full analysis of Snap-on’s results here and Stanley Black & Decker’s results here.

Investors in the industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Middleby’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $162.57 (compared to the current share price of $138).

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