Tobacco, a Killer Investment?

Philip Morris Companies Inc.

The Company

Philip Morris Companies is a holding company with the following principle subsidiaries: A subsidiary of Philip Morris International is the leading United States exporter of cigarettes. "Marlboro," the principal cigarette brand of these companies, has been the world's largest-selling cigarette brand since 1972. Certain subsidiaries and affiliates of Philip Morris International manufacture and sell a wide variety of food products in Latin America. Kraft Foods is the largest processor and marketer of retail packaged foods in the United States. A wide variety of cheese, processed meat products, coffee and grocery products are manufactured and marketed in the United States and Canada by Kraft. Miller Brewing Company is the final company in MO's aresenal of brand name products and is the second largest brewing company in the United States.

Latest Financials

Philip Morris reported an EPS of $1.81 fo its fourth quarter ended December 31, 1996, up 18.3% over the previous year's quarter. Total revenue was 7.3% higher for the company, coming in at $16.7 billion. MO's domestic tobacco volume continued to gain market share and North American food profits advanced 10.8% due to margin enhancements.

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