What Happened
Supply Chain Issues Hit Shares Hard Amid Revenue Growth Concerns
Honeywell Aerospace shares plummeted 23.2% after the company’s second-quarter report fell short of forecasts, according to the Associated Press. The aerospace unit’s results were impacted by material-supply constraints, which limited sales growth across end markets. The parent company had previously highlighted these constraints in its July 23 update. The stock’s sharp decline signals a reset in expectations around Honeywell Aerospace’s near-term earnings power. This development was first reported by the Associated Press.