Aerospace and defense company Textron (NYSE: TXT) will be announcing earnings results tomorrow morning. Here’s what to look for.

Textron missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $3.43 billion, up 2.5% year on year. It was a disappointing quarter for the company, with full-year EPS guidance missing analysts’ expectations.

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

This quarter, analysts are expecting Textron’s revenue to decline 1.9% year on year to $3.82 billion, a reversal from the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.27 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Textron has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Textron’s peers in the aerospace and defense segment, only AAR has reported results so far. It beat analysts’ revenue estimates by 4.9%, delivering year-on-year sales growth of 25.8%. The stock traded up 8.6% on the results.

There has been positive sentiment among investors in the aerospace and defense segment, with share prices up 4.6% on average over the last month. Textron is up 3.9% during the same time and is heading into earnings with an average analyst price target of $94.18 (compared to the current share price of $79.16).

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