No. While it may seem logical to think that liquid calories won’t add body fat, this couldn’t be further from the truth. What should be recognized is the energy balance (calories in versus calories out) over a day or a week.
Many beverages are sweetened with sugar and have very little nutritional benefit. Research indicates that high consumption of beverages with added sugars—particularly drinks sweetened with high-fructose corn syrup—may be contributing to the current obesity epidemic (Bray, Nielsen & Popkin 2004).
Source: April 2012 Idea Fitness Journal