A resurgent coronavirus slowed Coca-Cola’s recovery in the fourth quarter, and the company said the slump has continued into this year. But the Atlanta-based beverage giant said it’s confident it will see improvement as vaccines roll out around the world and it delivers new products in fast-growing categories, like an updated version of Coke Zero Sugar and Topo Chico Hard Seltzer, a rare foray into alcohol for the company.

Coke issued financial guidance for the first time since the pandemic began, saying it expects 2021 earnings to match or exceed those in 2019. “The trajectory of the recovery will be a significant factor, and we expect to be dealing with COVID-19 for the better part of the year, with the first half likely to be more challenging than the second half,” Coke Chief Financial Officer John Murphy said Wednesday in a conference call with analysts.

Coke has been decimated by the closure of arenas, restaurants, theaters and other public places, where it normally books about half its revenue.