Investors will be thirsting for another serving of good news when beverages behemoth Coca-Cola (KO:NYSE) reports earnings for the fourth quarter and full year to December 2023 on 13 February before the opening bell on Wall Street.

Consensus calls for a year-on-year rise in fourth-quarter sales and earnings from $10.1 billion and $0.45 to $10.7 billion and $0.48 respectively.

Back in October, the Atlanta-based drinks giant behind Coca-Cola as well as the Sprite, Costa and Topo Chico brands, delivered better-than-expected third-quarter revenue and earnings as the positive momentum seen in the first half flowed into Q3.

Organic sales fizzed up 11%, and following another period of market share gains Coca-Cola raised its full year organic revenue growth guidance from between 8% and 9% to the 10%-to-11% range.

‘We delivered an overall solid quarter and are raising our full-year top line and bottom line guidance in light of our year-to-date performance,’ explained chief executive James Quincey. ‘Our leading portfolio of brands, coupled with an aligned and motivated system, positions us to win in the marketplace today while also laying the groundwork for the long term.’

Investors will be hanging on Quincey’s every word when it comes to inflation and pricing trends around the world as well as the benefits of artificial intelligence on Coca-Cola’s innovation and marketing. The performance of zero sugar variants will be under scrutiny too, given investors’ concerns over the potential impact of weight-loss drugs on consumers’ thirst for calorific drinks. 

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