Industrials automation company Rockwell (NYSE:ROK) will be announcing earnings results tomorrow morning. Here’s what to look for.

Rockwell Automation met analysts’ revenue expectations last quarter, reporting revenues of $2.05 billion, down 8.4% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.

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

This quarter, analysts are expecting Rockwell Automation’s revenue to decline 18.8% year on year to $2.08 billion, a reversal from the 20.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.47 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. Rockwell Automation has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Rockwell Automation’s peers in the internet of things segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vontier’s revenues decreased 2% year on year, beating analysts’ expectations by 2.8%, and AMETEK reported revenues up 5.3%, in line with consensus estimates. Vontier traded up 8.5% following the results while AMETEK was also up 5.6%.

Read our full analysis of Vontier’s results here and AMETEK’s results here.

There has been positive sentiment among investors in the internet of things segment, with share prices up 2.7% on average over the last month. Rockwell Automation is up 2.4% during the same time and is heading into earnings with an average analyst price target of $278.20 (compared to the current share price of $272.51).

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