Molson Coors Beverage posted lower sales in its fourth quarter but its decline wasn't as steep as Wall Street feared. The maker of Coors and Miller beers logged net income of $287.8 million, or $1.39 a share, compared to $103.3 million, or 48 cents a share, a year earlier.

Molson Coors Beverage Company reported fourth-quarter earnings that beat analyst expectations, sending shares up 5.1% in early trading.

The company also provided a full-year earnings outlook that guided for further growth, and was above Wall Street forecasts.