Homebuilder Lennar (NYSE:LEN) will be announcing earnings results tomorrow after market close. Here’s what to expect.

Lennar beat analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $9.42 billion, up 7.9% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates.

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

This quarter, analysts are expecting Lennar’s revenue to decline 7.8% year on year to $10.11 billion, a reversal from the 7.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.12 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. Lennar has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 4.2% on average.

With Lennar being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for industrials stocks. However, investors in the segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Lennar is down 9.8% during the same time and is heading into earnings with an average analyst price target of $192.38 (compared to the current share price of $151.50).

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