Hospitality company Travel + Leisure (NYSE:TNL) will be reporting earnings tomorrow before market hours. Here’s what to look for.

Travel + Leisure beat analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $971 million, up 3.9% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ adjusted operating income estimates but a miss of analysts’ tours conducted estimates. It reported 175,000 tours conducted, up 1.7% year on year.

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

This quarter, analysts are expecting Travel + Leisure’s revenue to grow 1.5% year on year to $929.8 million, slowing from the 4.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.13 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. Travel + Leisure has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Travel + Leisure’s peers in the travel and vacation providers segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 7.5%, beating analysts’ expectations by 0.9%, and United Airlines reported revenues up 5.4%, topping estimates by 0.6%. Carnival traded up 1.1% following the results while United Airlines’s stock price was unchanged.

Read our full analysis of Carnival’s results here and United Airlines’s results here.

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