Molson Coors Beverage Co. shares /zigman2/quotes/205165133/composite TAP -1.24% rose 1.5% in premarket trade Thursday, after the brewer of Coors Light, Miller Lite, Molson Canadian, and other beer brands beat earnings estimates for the third quarter. Colorado-based Molson posted net income of $453 million, or $2.08 a share, for the quarter, up from $342.8 million, or $1.58 a share, in the year-earlier period. Adjusted per-share earnings came to $1.75, ahead of the $1.53 FactSet consensus. Sales rose 2.5% to $2.883 billion from $2.754 billion, below the $2.914 billion FactSet consensus. Sales were boosted by stronger pricing, favorable brand mix and the further reopening of premises that were shuttered for the pandemic last year. "The momentum we have established and gains we have made come against an incredibly difficult backdrop of global supply chain challenges and transportation cost inflation," CEO Gavin Hattersley said in a statement. The company reaffirmed guidance for sales to rise in mid-single digits on a constant currency basis. Shares have fallen 3.5% in the year through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.31% has gained 21%.