Water technology company Xylem (NYSE:XYL) will be announcing earnings results tomorrow morning. Here’s what to expect.

Xylem missed analysts’ revenue expectations by 3% last quarter, reporting revenues of $2.10 billion, up 1.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ organic revenue estimates and a miss of analysts’ adjusted operating income estimates.

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

This quarter, analysts are expecting Xylem’s revenue to grow 3% year on year to $2.18 billion, slowing from the 40.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.13 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. Xylem has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Xylem’s peers in the industrial machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Crane reported revenues up 12.3%, topping estimates by 1.2%. GE Aerospace traded up 4.5% following the results while Crane was also up 12.3%.

Read our full analysis of GE Aerospace’s results here and Crane’s results here.

Investors in the industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Xylem is up 5.1% during the same time and is heading into earnings with an average analyst price target of $143.83 (compared to the current share price of $122.84).

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