Honeywell Aerospace Stock Tanks After Missing Earnings Estimates

Honeywell Aerospace (NASDAQ:HONA) stock plummeted by 23.2% on Thursday after releasing quarterly earnings that fell short of expectations.

The company's shares traded as low as $150.03 and last closed at $156.47, with approximately 20,569,070 shares changing hands during trading - a significant increase of 513% from the average session volume of 3,357,019 shares.

Honeywell Aerospace reported adjusted second-quarter EPS of $1.87, below the consensus estimate of $2.07, and revenue also fell short of expectations at $4.35 billion for the quarter.

The company cited supply constraints, including casting shortages, which limited shipments and particularly weakened the aftermarket business.