Casual sandwich chain Potbelly (NASDAQ:PBPB) will be reporting results tomorrow after market hours. Here’s what investors should know.

Potbelly beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $115.1 million, down 4.7% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

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

This quarter, analysts are expecting Potbelly’s revenue to decline 7.5% year on year to $116.4 million, a reversal from the 4.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 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. Potbelly has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Potbelly’s peers in the modern fast food segment, some have already reported their Q4 results, giving us a hint as to what we can expect. CAVA delivered year-on-year revenue growth of 28.3%, beating analysts’ expectations by 2.2%, and Shake Shack reported revenues up 14.8%, in line with consensus estimates. CAVA’s stock price was unchanged after the results, while Shake Shack was down 2.2%.

Read our full analysis of CAVA’s results here and Shake Shack’s results here.

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