Beer powerhouse Anheuser-Busch InBev (NYSE:BUD) will be reporting results tomorrow before market hours. Here’s what investors should know.

Anheuser-Busch met analysts’ revenue expectations last quarter, reporting revenues of $15.33 billion, up 1.4% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ EBITDA estimates.

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

This quarter, analysts are expecting Anheuser-Busch’s revenue to be flat year on year at $15.71 billion, slowing from the 3.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.91 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. Anheuser-Busch has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Anheuser-Busch’s peers in the beverages, alcohol and tobacco segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Coca-Cola posted flat year-on-year revenue, beating analysts’ expectations by 2.9%, and Boston Beer reported flat revenue, in line with consensus estimates. Coca-Cola traded down 3.1% following the results while Boston Beer was also down 1.8%.

Read our full analysis of Coca-Cola’s results here and Boston Beer’s results here.

Investors in the beverages, alcohol and tobacco segment have had steady hands going into earnings, with share prices flat over the last month. Anheuser-Busch is down 4% during the same time and is heading into earnings with an average analyst price target of $74.58 (compared to the current share price of $63.89).

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