Beauty products company Estée Lauder (NYSE:EL) will be reporting results tomorrow before market hours. Here's what to look for.

Estée Lauder met analysts' revenue expectations last quarter, reporting revenues of $4.28 billion, down 7.4% year on year. It was a decent quarter for the company, with an impressive beat of analysts' earnings estimates but underwhelming earnings guidance for the full year.

Is Estée Lauder a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Estée Lauder's revenue to grow 4.4% year on year to $3.91 billion, a reversal from the 11.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 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. Estée Lauder has missed Wall Street's revenue estimates three times over the last two years.

Looking at Estée Lauder's peers in the consumer staples segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Medifast's revenues decreased 49.9% year on year, meeting analysts' expectations, and Colgate-Palmolive reported revenues up 6.2%, topping estimates by 2.1%. Colgate-Palmolive traded up 1.3% following the results.

Read our full analysis of Medifast's results here and Colgate-Palmolive's results here.

Inflation fears have put pressure on growth stocks, and while some of the consumer staples stocks have fared somewhat better, they have not been spared, with share prices down 3.6% on average over the last month. Estée Lauder is down 3.4% during the same time and is heading into earnings with an average analyst price target of $162.2 (compared to the current share price of $146.8).

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