The Coca-Cola Companyshowed decent footing and ability to withstand rough time by beating, once again, earnings expectations. Here’s what the company reported compared with Wall Street analysts’ expectations:

KO reported EPS is $0.7 (78 cents adjusted), expectations were $0.65 (72 cents adjusted expected). Revenue came in at $11.97 billion adjusted vs. $11.75 billion expected.

The beverage and snacks giant reported Q2 net income attributable to shareholders of $2.55 billion, or 59 cents per share, up from $1.91 billion, or 44 cents per share, a year earlier.

For 2023, Coke now expects comparable adjusted earnings per share growth of 5% to 6%, up from its prior forecast of a 4% to 5% rise. The company also hiked its outlook for organic revenue and now predicts an increase of 8% to 9%, up from its previous range of 7% to 8%. It seems that the only KO’s visible problem is a kind of elevated valuation: at 24 P/E multiple of 22x Coke is only worth accumulating if more signs of upcoming recession become undisputable, since this stock has been known as one of economic cycle resistant pillars for many decades.