Coca-Cola reported its first-quarter earnings before the bell on Tuesday.
Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
Investors often view Coke as a bellwether for consumers, especially in the U.S., its home market. Its report will provide an update on how shoppers are feeling, particularly in the wake of higher fuel prices caused by the Iran war.
In the past few quarters, Coke executives have reported weaker demand from budget-conscious consumers. However, premium brands like Fairlife and Smartwater have stayed strong in the current K-shaped economy, boosted by high-income shoppers who aren't feeling the same pinch.
Rivals PepsiCo and Keurig Dr Pepper have already reported their quarterly results. Pepsi's North American beverage division saw volume fall 2.5% as consumers continue to push back on higher prices. Keurig Dr Pepper, on the other hand, reported sales growth of more than 11% for its U.S. refreshment beverages division, which includes its namesake soda, 7Up and Snapple.
For the full year, Coke is projecting organic revenue growth of 4% to 5% and comparable earnings per share growth of 7% to 8%.
Shares of Coke have risen just 6% over the last year, versus nearly 30% for the S&P 500, hurt by concerns about the broader economy. The company has a market cap of about $327 billion.
