• The logistics company lowered its full year 2019 guidance for the second time to a range of $15.10 to $15.90, compared to the forecast $15.97.

• FedEx reported earnings per share and revenue below expectations for the third quarter.

• The company's chief financial officer cited "weaker global trade growth trends" for the decline in revenue.

Shares of FedEx FDX dropped more than 5 percent after the bell Tuesday following disappointing third-quarter results. The logistics company also slashed its full-year earnings guidance for the second time since December, as it continues to struggle in the face of slowing global trade.

Here's how the company did compared to what Wall Street expected:

• Earnings per share: $3.03 vs. $3.11 expected , according to analysts surveyed by Refinitiv.

• Revenue: $17.01 billion vs. $17.67 billion expected, according to analysts surveyed by Refinitiv.

FedEx issued weak full-year 2019 earnings per share guidance: between $15.10 and $15.90 compared to the forecast $15.97, according to analysts surveyed by Refinitiv. This is the second time FedEx has slashed its full-year earnings outlook.

The company said it expects fourth-quarter earnings per share between $4.58 and $5.38, compared to the estimated $5.39.

"Slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our FedEx Express international revenue," said Alan B. Graf, Jr., FedEx executive vice president and chief financial officer.

CEO Federick W. Smith acknowledged that the third-quarter results were "below our expectations" and said the company is focused on ways to improve its performance in the future.

"Our investments in innovation, network infrastructure and automation will increase our competitiveness and drive long-term earnings growth," Smith said. "FedEx built and operates the preeminent global parcel and logistics network, and we have a lengthy track record of success."

UPS UPS shares also fell about 1 percent after hours.

This is a developing story. Check back for updates.

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