Coca-Cola is about to report earnings. Here's what to expect

Coca-Cola on Tuesday reported quarterly earnings and revenue that topped analysts' expectations, fueled by higher demand for its beverages.For the full year, Coke is now projecting comparable earnings per share growth of 8% to 9%, up from its prior forecast of 7% to 8%. It reiterated its previous outlook of organic revenue growth of 4% to 5%.Shares of the company rose more than 2% in premarket trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 86 cents adjusted vs. 81 cents expectedRevenue: $12.47 billion adjusted vs. $12.24 billion expectedCoke reported first-quarter net income attributable to shareholders of $3.92 billion, or 91 cents per share, up from $3.33 billion, or 77 cents per share, a year earlier.Excluding impairment charges and other items, the beverage giant earned 86 cents per share.The company's adjusted net sales climbed 12% to $12.47 billion. Coke's organic revenue, which strips out acquisitions, divestitures and currency, rose 10% in the quarter.The company's unit case volume increased 3% globally. The metric excludes pricing to reflect demand more accurately.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 as low-income consumers.All of Coke's operating segments reported volume growth for the quarter, including its home market. The company's volume in North America increased 4%. Across the portfolio, Coke's water, sports, coffee and tea segment reported the strongest global growth. The division saw volume rise 5%, fueled by stronger demand for its tea and bottled water. The sparkling soft drinks division reported that volume increased 2%, fueled by a 13% jump for Coca-Cola Zero Sugar.The laggard of the portfolio this quarter was Coke's juice, value-added dairy and plant-based beverage segment, which reported a volume decline of 1%. Growth in Fairlife and Santa Clara, a Mexican dairy brand, was not enough to offset the sale of the company's finished product operations in Nigeria last year.

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