Fast-food pizza chain Papa John’s (NASDAQ:PZZA) will be reporting earnings tomorrow morning. Here’s what investors should know.

Papa John's missed analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $507.9 million, down 1.3% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

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

This quarter, analysts are expecting Papa John’s revenue to decline 4.6% year on year to $498.6 million, a reversal from the 2.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 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.

Looking at Papa John’s peers in the traditional fast food segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Yum China delivered year-on-year revenue growth of 5.4%, beating analysts’ expectations by 1.5%, and El Pollo Loco reported flat revenue, in line with consensus estimates. Yum China traded up 7.3% following the results while El Pollo Loco was down 2.1%.

Read our full analysis of Yum China’s results here and El Pollo Loco’s results here.

There has been positive sentiment among investors in the traditional fast food segment, with share prices up 6.8% on average over the last month. Papa John's is up 16.8% during the same time and is heading into earnings with an average analyst price target of $57.94 (compared to the current share price of $57.27).

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