When Coca-Cola Co. (NYSE: KO) reports second-quarter results on Wednesday morning, analysts are looking for earnings per share (EPS) of $0.60 on revenues of $12.08 billion. In the 2014 second quarter, Coke posted EPS of $0.64 on revenues of $12.55 billion. The EPS estimate has not changed for the past 90 days, indicating that the analysts are satisfied with it or that they have lost interest.

Coke’s most recent foray onto the front pages has been the company’s efforts to bring some real reform to the world’s governing body for soccer, FIFA. Coca-Cola wants the organization to subject itself to an immediate and independent reform process led by someone external to the soccer world. Coke has been a sponsor of the World Cup tournament since 1978 and, while the company has not said it will walk away from FIFA if something is not done to clean up the organization, there shouldn’t be much question in FIFA’s corporate mind about the consequences of doing nothing. It appears that FIFA has so far chosen to do next to nothing instead.

Public relations aside, the company’s second-quarter prospects are dimmed somewhat by the strong U.S. dollar and the attendant currency exchange headwinds. Sales could be lower due to an early Easter this year and to a change in the price/mix of sales. With a forward price-to-earnings (P/E) ratio of 19.40, the stock trails the consumer goods average of 23.89, but its dividend yield of 3.3% is better than the sector average of 2.96%.

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This has been declared a transition year at the company, and that is probably why the story about FIFA is getting more attention than Coca-Cola’s performance. If the company flubs earnings Wednesday, however, the situation could change fast.

Shares traded down 0.47% in midday Tuesday, at $41.19 in a 52-week range of $39.06 to $45.00. The consensus price target is $45.11.

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