Packaged foods company B&G Foods (NYSE:BGS) will be announcing earnings results tomorrow afternoon. Here's what you need to know.

B&G Foods beat analysts' revenue expectations by 1.1% last quarter, reporting revenues of $578.1 million, down 7.2% year on year. It was a mixed quarter for the company, with optimistic earnings guidance for the full year but a miss of analysts' operating margin estimates.

Is B&G Foods a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting B&G Foods's revenue to decline 5.8% year on year to $482.1 million, a further deceleration from the 3.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.21 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. B&G Foods has missed Wall Street's revenue estimates four times over the last two years.

Looking at B&G Foods's peers in the shelf-stable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Mondelez delivered year-on-year revenue growth of 3%, beating analysts' expectations by 1.5%, and BellRing Brands reported revenues up 28.3%, topping estimates by 5.9%. Mondelez traded down 1.8% following the results.

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

Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices flat over the last month. B&G Foods is up 1.5% during the same time and is heading into earnings with an average analyst price target of $10.1 (compared to the current share price of $11.14).

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