Michelob Ultra overtakes Modelo Especial as best-selling beer in the U.S.

Core Insights - Michelob Ultra has surpassed Modelo Especial to become the best-selling beer in the United States, marking a significant shift in the market dynamics [1][2] - AB InBev's Michelob Ultra's rise comes after a challenging period for the company, particularly following the backlash against Bud Light [2] - Constellation Brands is facing challenges, including tariffs and declining demand from its core Hispanic consumer base, which has historically been significant for Modelo Especial [3][4] Company Performance - AB InBev's stock has increased by over 16% this year, reflecting the positive impact of Michelob Ultra's sales performance [4] - In contrast, Constellation Brands' shares have decreased by 39%, indicating struggles in its business operations and market position [4] Market Dynamics - The shift in consumer preferences has led to Michelob Ultra becoming the top seller in both retail and bar/restaurant channels [1] - Constellation Brands has revised its fiscal year forecast, expecting a decline in net beer sales by 2% to 4% due to lower volumes and tariff impacts, a change from its previous expectation of flat to 3% growth [4]