Manufacturing company Leggett & Platt (NYSE:LEG) will be reporting earnings tomorrow after the bell. Here's what to expect.

Leggett & Platt missed analysts' revenue expectations by 2% last quarter, reporting revenues of $1.10 billion, down 9.6% year on year. It was a weak quarter for the company, with a miss of analysts' FF&T revenue estimates and underwhelming earnings guidance for the full year.

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

This quarter, analysts are expecting Leggett & Platt's revenue to decline 7.1% year on year to $1.13 billion, improving from the 8.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.30 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. Leggett & Platt has missed Wall Street's revenue estimates four times over the last two years.

Looking at Leggett & Platt's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Mohawk Industries's revenues decreased 5.1% year on year, missing analysts' expectations by 1.2%, and Royal Caribbean reported revenues up 16.7%, topping estimates by 1.6%. Mohawk Industries traded up 19.3% following the results while Royal Caribbean was down 6.7%.

Read our full analysis of Mohawk Industries's results here and Royal Caribbean's results here.

There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.8% on average over the last month. Leggett & Platt is up 20.6% during the same time and is heading into earnings with an average analyst price target of $11.3 (compared to the current share price of $13.48).

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