Racing, gaming, and entertainment company Churchill Downs (NASDAQ: CHDN) will be announcing earnings results tomorrow after market hours. Here’s what investors should know.

Churchill Downs met analysts’ revenue expectations last quarter, reporting revenues of $628.5 million, up 9.8% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS and adjusted operating income estimates.

Is Churchill Downs a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Churchill Downs’s revenue to grow 10.3% year on year to $618.9 million, slowing from the 16.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.96 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. Churchill Downs has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Churchill Downs’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. DraftKings delivered year-on-year revenue growth of 13.2%, missing analysts’ expectations by 0.9%, and Marcus & Millichap reported revenues up 44.4%, topping estimates by 20.2%. DraftKings traded up 15.2% following the results while Marcus & Millichap was also up 5.4%.

Read our full analysis of DraftKings’s results here and Marcus & Millichap’s results here.

Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Churchill Downs is down 1.3% during the same time and is heading into earnings with an average analyst price target of $162.75 (compared to the current share price of $124.72).

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