Beverage company Zevia (NYSE:ZVIA) will be announcing earnings results tomorrow before market open. Here's what to look for.

Zevia PBC beat analysts' revenue expectations by 1.2% last quarter, reporting revenues of $37.79 million, up 6.9% year on year. It was a weak quarter for the company, with revenue guidance for next quarter missing analysts' expectations.

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

This quarter, analysts are expecting Zevia PBC's revenue to decline 8.9% year on year to $39.43 million, a reversal from the 13.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.09 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. Zevia PBC has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 3.7% on average.

Looking at Zevia PBC's peers in the beverages and alcohol segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Constellation Brands delivered year-on-year revenue growth of 7.1%, beating analysts' expectations by 2%, and MGP Ingredients reported a revenue decline of 15.1%, in line with consensus estimates. Constellation Brands traded down 1% following the results while MGP Ingredients was up 2.9%.

Read our full analysis of Constellation Brands's results here and MGP Ingredients's results here.

Investors in the beverages and alcohol segment have had steady hands going into earnings, with share prices flat over the last month. Zevia PBC is down 18.6% during the same time and is heading into earnings with an average analyst price target of $3.2 (compared to the current share price of $0.96).

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