Packaged bakery food company Flower Foods (NYSE:FLO) will be reporting earnings tomorrow after market hours. Here's what you need to know.

Flowers Foods met analysts' revenue expectations last quarter, reporting revenues of $1.13 billion, up 4.3% year on year. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations.

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

This quarter, analysts are expecting Flowers Foods's revenue to grow 2.9% year on year to $1.58 billion, slowing from the 6.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.41 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. Flowers Foods has missed Wall Street's revenue estimates three times over the last two years.

Looking at Flowers Foods's peers in the perishable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Pilgrim's Pride delivered year-on-year revenue growth of 4.7%, missing analysts' expectations by 1.5%, and Freshpet reported revenues up 33.6%, topping estimates by 3.6%. Pilgrim's Pride traded up 1.6% following the results while Freshpet was also up 10.2%.

Read our full analysis of Pilgrim's Pride's results here and Freshpet's results here.

There has been positive sentiment among investors in the perishable food segment, with share prices up 6.7% on average over the last month. Flowers Foods is up 9.4% during the same time and is heading into earnings with an average analyst price target of $24.1 (compared to the current share price of $25.35).

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