Aerospace and defense company Howmet (NYSE:HWM) will be announcing earnings results tomorrow before market hours. Here’s what investors should know.

Howmet beat analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $1.88 billion, up 14.1% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

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

This quarter, analysts are expecting Howmet’s revenue to grow 11.8% year on year to $1.85 billion, slowing from the 15.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.65 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Howmet has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.5% on average.

Looking at Howmet’s peers in the aerospace segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Curtiss-Wright delivered year-on-year revenue growth of 10.3%, beating analysts’ expectations by 5.4%, and AAR reported revenues up 20.4%, topping estimates by 2.3%. Curtiss-Wright’s stock price was unchanged after the results, and AAR’s price followed a similar reaction.

Read our full analysis of Curtiss-Wright’s results here and AAR’s results here.

Investors in the aerospace segment have had steady hands going into earnings, with share prices flat over the last month. Howmet is down 2.8% during the same time and is heading into earnings with an average analyst price target of $108.73 (compared to the current share price of $99.96).

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