Fluid and gas handling company MRC (NYSE:MRC) will be reporting results tomorrow afternoon. Here’s what to look for.

MRC Global met analysts’ revenue expectations last quarter, reporting revenues of $797 million, down 10.2% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income estimates.

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

This quarter, analysts are expecting MRC Global’s revenue to decline 5.4% year on year to $726.9 million, improving from the 11.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 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. MRC Global has missed Wall Street’s revenue estimates four times over the last two years.

Looking at MRC Global’s peers in the industrial distributors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. MSC Industrial’s revenues decreased 2.7% year on year, beating analysts’ expectations by 2.7%, and United Rentals reported revenues up 9.8%, topping estimates by 3.9%. MSC Industrial’s stock price was unchanged after the results, while United Rentals was up 2%.

Read our full analysis of MSC Industrial’s results here and United Rentals’s results here.

There has been positive sentiment among investors in the industrial distributors segment, with share prices up 2.6% on average over the last month. MRC Global is down 2.5% during the same time and is heading into earnings with an average analyst price target of $17.25 (compared to the current share price of $13.20).

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