Aerospace and defense company Leonardo DRS (NASDAQ:DRS) will be announcing earnings results tomorrow morning. Here’s what to expect.

Leonardo DRS beat analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $981 million, up 5.9% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and full-year revenue guidance beating analysts’ expectations.

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

This quarter, analysts are expecting Leonardo DRS’s revenue to grow 6.4% year on year to $731.8 million, slowing from the 20.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 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. Leonardo DRS has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 5.1% on average.

Looking at Leonardo DRS’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 1.6% on average over the last month. Leonardo DRS is up 14.5% during the same time and is heading into earnings with an average analyst price target of $37.38 (compared to the current share price of $37.64).

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.