Modelo Especial remains top-selling US beer
Bud Light and Anheuser Busch (AB) are still losing ground in the battle of the beers, and the beer giant hasn’t regained the top spot it held for so many years. AB officially lost that top spot last year following an advertising controversy with transgender activist Dylan Mulvaney.
Bud Light sales plummeted.
Modelo and its parent company Constellation Brands (CB), who took over that spot, released an earnings report Friday showing positive gains after a strong third quarter for beer sales, according to Fox Business. Modelo is still the top-selling beer nationally.
The release came on the heels of a report that beer consumption is set to fall below 200 million barrels for the first time since 1999.
“Our mission is to build brands that people love because we believe elevating human connections is worth reaching for,” said CB in the release. “It’s worth our dedication, hard work and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees and industry. This dedication has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.”
Despite CB falling short of its quarterly growth sales estimates due to a decline in wine and spirits sales, beer sales were up, and the company maintains its 2024 profit forecast of beer brand growth.
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