Chicken producer Pilgrim’s Pride (NASDAQ: PPC) will be reporting results this Wednesday afternoon. Here’s what to look for.

Pilgrim's Pride beat analysts’ revenue expectations last quarter, reporting revenues of $4.53 billion, up 1.6% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ gross margin estimates.

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

This quarter, the market is expecting Pilgrim's Pride’s revenue to decline 1.2% year on year, a reversal from the 4.3% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Pilgrim's Pride has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Pilgrim's Pride’s peers in the consumer staples segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cal-Maine’s revenues decreased 49.9% year on year, missing analysts’ expectations by 2%, and Vita Coco reported revenues up 28.1%, topping estimates by 3%. Cal-Maine traded up 1% following the results while Vita Coco was down 11.4%.

Read our full analysis of Cal-Maine’s results here and Vita Coco’s results here.

There has been positive sentiment among investors in the consumer staples segment, with share prices up 2.7% on average over the last month. Pilgrim's Pride’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $33.56 (compared to the current share price of $29.17).

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