Memphis-based FedEx Corp. reported $4.6 billion in consolidated net profit for fiscal 2018—up 53% over the company’s fiscal 2017 $3 billion net result—boosted by $2.1 billion in tax benefits, $1.6 billion of which came from the Tax Cuts and Jobs Act (TCJA) passed by the US Congress in late December 2017. Other net benefits registered by the company included $255 million from corporate structuring transactions associated with the ongoing integration of TNT Express (which ...

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