Egg and butter company Vital Farms (NASDAQ:NATR) will be reporting earnings tomorrow before market open. Here's what to look for.

Last quarter Vital Farms reported revenues of $110.4 million, up 20% year on year, in line with analyst expectations. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.

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

This quarter analysts are expecting Vital Farms's revenue to grow 19% year on year to $131 million, slowing down from the 42.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 5.3%.

Looking at Vital Farms's peers in the packaged food segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Mondelez delivered top-line growth of 8.7% year on year, beating analyst estimates by 0.2% and Kellanova reported revenues up 0.3% year on year, exceeding estimates by 3.1%. Mondelez traded down 3.1% on the results, Kellanova was up 2.1%.

Read our full analysis of Mondelez's results here and Kellanova's results here.

Investors in the packaged food segment have had steady hands going into the earnings, with the stocks up on average 0.7% over the last month. Vital Farms is up 25% during the same time, and is heading into the earnings with analyst price target of $18.4, compared to share price of $18.59.

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