Infrastructure and defense services provider Parsons (NYSE:PSN) will be announcing earnings results tomorrow before market open. Here’s what to look for.

Parsons missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $1.73 billion, up 16.1% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations.

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

This quarter, analysts are expecting Parsons’s revenue to grow 5.6% year on year to $1.62 billion, slowing from the 30.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 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. Parsons has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Parsons’s peers in the defense contractors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CACI delivered year-on-year revenue growth of 11.8%, beating analysts’ expectations by 1.5%, and Lockheed Martin reported revenues up 4.5%, topping estimates by 1.1%. CACI traded up 7.9% following the results while Lockheed Martin was also up 1.1%.

Read our full analysis of CACI’s results here and Lockheed Martin’s results here.

Investors in the defense contractors segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Parsons is up 15.4% during the same time and is heading into earnings with an average analyst price target of $79.45 (compared to the current share price of $68.33).

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