Packaged food company Simply Good Foods (NASDAQ:SMPL) will be announcing earnings results tomorrow before the bell. Here's what to expect.

Last quarter Simply Good Foods reported revenues of $308.7 million, up 2.6% year on year, missing analyst expectations by 0.2%. It was a mixed quarter for the company. Revenue and operating margin missed by a bit, but adjusted EBITDA and EPS beat. The company reaffirmed its full year outlook, showing that things are very much on track.

Is Simply Good Foods buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Simply Good Foods's revenue to grow 6.6% year on year to $316.2 million, improving on the 0% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.38 per share.

The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing three downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.8%.

Looking at Simply Good Foods's peers in the consumer staples segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. General Mills's revenues decreased 0.5% year on year, beating analyst estimates by 2.7% and Cal-Maine reported revenue decline of 29.5% year on year, exceeding estimates by 1.5%. General Mills traded up 2.9% on the results, and Cal-Maine traded up 8.2% on the results.

Read our full analysis of General Mills's results here and Cal-Maine's results here.

Investors in the consumer staples segment have had steady hands going into the earnings, with the stocks up on average 1.6% over the last month. Simply Good Foods is down 0.9% during the same time, and is heading into the earnings with analyst price target of $43.7, compared to share price of $33.5.

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