Cola, companies that sell things to shoppers are talking about the effects of tariffs on their earnings calls.

This week Coca-Cola reported stronger-than-expected quarterly earnings . This of course comes despite the tariff headwinds faced by many multinational companies with global supply chains. But Coke CEO James Quincy attributed the company’s success in part to the fact that Coca-Cola itself doesn’t actually make much soda.

Coca-Cola's quarterly revenue and profit beat estimates on Tuesday thanks to price hikes and strong demand for its sodas, but the beverage giant warned U.S. tariffs could impact costs and hurt consumer sentiment going ahead.