Packaged foods company Conagra Brands (NYSE: CAG) will be reporting results this Friday before market open. Here’s what to expect.

Conagra beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $2.63 billion, down 5.8% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ gross margin estimates.

Is Conagra a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Conagra’s revenue to decline 6.8% year on year to $2.98 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.44 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. Conagra has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Conagra’s peers in the consumer staples segment, only General Mills has reported results so far. It beat analysts’ revenue estimates by 1.9%, posting year-on-year sales declines of 7.2%. The stock traded up 145% on the results.

There has been positive sentiment among investors in the consumer staples segment, with share prices up 5.8% on average over the last month. Conagra is up 2.4% during the same time and is heading into earnings with an average analyst price target of $19.93 (compared to the current share price of $17.79).

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