Safety and security company Federal Signal (NYSE:FSS) will be reporting results tomorrow before market hours. Here’s what to look for.

Federal Signal missed analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $472 million, up 5.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a miss of analysts’ backlog estimates.

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

This quarter, analysts are expecting Federal Signal’s revenue to grow 8.1% year on year to $459.1 million, slowing from the 10.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.73 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. Federal Signal has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Federal Signal’s peers in the heavy transportation equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Shyft delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 2.8%, and Wabtec reported revenues up 4.5%, falling short of estimates by 0.8%. Shyft traded up 18.1% following the results while Wabtec was also up 8%.

Read our full analysis of Shyft’s results here and Wabtec’s results here.

Investors in the heavy transportation equipment segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Federal Signal is up 1.3% during the same time and is heading into earnings with an average analyst price target of $103.17 (compared to the current share price of $74.53).

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