Investing.com -- Honeywell Aerospace lowered its 2026 sales growth forecast and issued a weaker-than-expected earnings outlook on Wednesday, as ongoing supply-chain constraints limited its ability to keep pace with surging aftermarket demand.

The maker of aircraft engines, parts and defense systems now expects organic sales growth of 4% to 5% this year, down from a previous forecast of 7% to 9%. It projected full-year adjusted earnings per share of $7.60 to $7.90, well below the $8.86 average analyst estimate compiled by LSEG.

Shares fell nearly 12% in premarket trading Thursday.

"Aerospace stocks work on the back of beats and raises not misses and cuts and so HONA is likely in for a bumpy ride until results can show a real inflection. There are things to like in the story (& not just stock’s cheap valuation) but right now risk skews negative," Wolfe Research analysts said in a post-earnings note.

Honeywell Aerospace was spun off from Honeywell International as part of a three-way breakup of one of the last major industrial conglomerates, debuting on the Nasdaq in June.

The company recorded roughly $100 million in separation-related costs and inventory obsolescence charges during the quarter, contributing to a 7% year-over-year decline in core profit. Second-quarter adjusted earnings per share fell 32% to $1.87, while sales rose 5% to $4.52 billion.