Investors will expect resilient first-quarter figures and potentially another earnings beat from Coca-Cola (KO:NYSE) when the beverages giant serves up first quarter results on 29 April.

Iconic brands including ‘Coke’, the world’s most recognised soft drink, unparalleled distribution capabilities and enviable pricing power arising from low demand elasticity suggest the Sprite and Fanta owner should be able to shrug off the worst of any tariff-related turmoil.

In fact, the drinks powerhouse is largely insulated from the trade war since the bulk of its products are bottled and distributed in their home countries. Tariffs on aluminium could have an impact on prices, which is why the astute company is looking at ways to expand availability of its plastic bottles.

Despite the tariffs-induced market sell-off, shares in Coca-Cola are up 17% year-to-date reflecting investors’ desire to own a classic defensive whose total beverage portfolio has nearly doubled in retail value over the past decade and which has increased its dividend in each of the last 62 years.

When Coca-Cola reports, investors will want to know if Coca-Cola is on course to meet guidance for full year 2025 organic revenue growth of 5% to 6% and to hear CEO James Quincey’s thoughts on everything from the health of the US consumer to currency headwinds to the impact of weight-loss drugs on demand for sugary sodas, although Coca-Cola has been grabbing market share as health-conscious drinkers shift allegiance to no-sugar options and sparkling waters.

On 11 February, Coca-Cola’s fourth quarter results demonstrated that its ‘all-weather strategy’ is working, with organic revenues up 14% amid further market share gains. The Schweppes-to-Topo Chico brands owner also delivered a year-on-year rise in operating margins from 21% to 23.5%. 

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