Phillip Morris (PM) CEO Louis Camilleri this morning told investors at a Morgan Stanley (MS) global retail conference that the company will make the upper end of its forecast for $3.20 to $3.25 per share in profit, offered last month. (A text of prepared remarks is available here.) In addition, he said the firm has found $750 million to $1 billion of additional cash flow it can generate in the next three years through improvements in its working capital. PM stock is down 22 cents, or .4%, at $50.31.
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