America’s favorite beer is now Michelob Ultra

Michelob Ultra has surpassed Constellation’s Modelo Especial to become the top-selling beer in American stores, bars, and restaurants, according to parent Anheuser-Busch.

The light beer is a huge hit among health-conscious drinkers as it carries low-calorie and low-carb brews.

The shift marks a rebound for brewer AB InBev, whose Bud Light lost its lead of over 20 years in 2024, following backlash over a brand partnership with transgender influencer Dylan Mulvaney.

Modelo’s slump comes as Constellation faces tariffs on aluminum and Mexican imports, and declining demand from Hispanic consumers, who historically made up about 50% of its customer base.

The company’s shares have dropped 39% this year, and it recently cut its sales forecast, expecting beer sales to fall up to 4%.

Meanwhile, AB InBev’s stock is up more than 16% so far in 2025.