Shares of Coca-Cola (NYSE:) are up more than 2% in premarket trading Monday after the company’s Q1 EPS report beat analyst expectations.

Coca-Cola’s comparable earnings per share were 64c. This is higher than the consensus estimate of 58c/share. Adjusted operating revenues reached $10.50 trillion, an 16% increase YoY. Analyst estimates were $9.84 billion higher. The adjusted organic revenue grew by 18% while analysts expected 9.46%.

A company report showed a 8% increase in unit volume. By 12%, the company saw an increase in unit cases for nutrition, juice, milk, and other plant-based beverages. By 10%, the volume of tea, sports drinks, coffee, and tea units increased. Coca-Cola reports a +1% increase in concentrate sales compared with analyst expectations of +2.82%.

The beverage company anticipates an adjusted increase in organic revenue of 7 to 8 percent for FY, as opposed to consensus estimates of +8.02%.

Similar EPS growth is expected to be 5-6% in the next year. Capital expenditures are projected at approximately $1.5 million.

KO predicts that commodities price inflation will be in the mid-single digits. The impact of Russia’s invasion of Ukraine is estimated to be around 1% to unit case volume, and about 1-2% to net revenue, as well as 4c to comparable EPS.

Goldman Sachs) analyst Bonnie Herzog said KO “delivered strong performance on both the top & bottom lines.”

“Investor expectations for KO heading into results today were high, and KO’s Q1 print likely exceeded these expectations… Based on investor conversations ahead of the print today, most investors were expecting a strong topline beat, but believed KO would lower its FY22 guidance given f/x headwinds, macro issues and cost inflation pressures. Today’s performance and outlook are expected to be positive, particularly as the guidance has been maintained. We expect the stock to outperform the market today.”

By Senad Karaahmetovic