What Happened
Aerospace Supplier Slashes Growth Forecast Amid Supply Chain Constraints
Honeywell Aerospace reported second-quarter results that missed Wall Street expectations, with sales of $4.5 billion and adjusted earnings before interest and taxes of $995 million. The company cut its full-year organic sales growth forecast to 4%-5% due to supply chain constraints. CEO Jim Currier stated that the company is taking steps to address these constraints, including qualifying new suppliers and increasing investment in supplier tooling. This news was first reported by an unknown source.