Global airline Delta Air Lines (NYSE: DAL) will be announcing earnings results this Thursday before market open. Here’s what to expect.

Delta beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $14.04 billion, up 2.1% year on year. It was a mixed quarter for the company, with revenue guidance for next quarter topping analysts’ expectations but a miss of analysts’ EPS estimates. It reported 55.68 billion revenue passenger miles, up 2.7% year on year.

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

This quarter, analysts are expecting Delta’s revenue to decline 1.5% year on year to $16.41 billion, a reversal from the 6.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.05 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. Delta has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.

Looking at Delta’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 9.5%, beating analysts’ expectations by 1.7%, and Nike reported a revenue decline of 12%, topping estimates by 3.4%. Carnival traded up 5.9% following the results while Nike was also up 15.2%.

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

There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 5.6% on average over the last month. Delta is down 1% during the same time and is heading into earnings with an average analyst price target of $59.03 (compared to the current share price of $50.67).

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