Honeywell projected annual sales below Wall Street expectations and missed quarterly revenue estimates on Thursday as the industrial giant struggles with persistent supply-chain disruptions and weakness in its industrial automation business.

Honeywell’s weak performance in the area of warehouse automation comes as the overall market has struggled to bounce back from a slowdown that began in 2022. Warehouse automation revenues are forecast to dip this year to $30.5 billion from $31.4 billion in 2023 , according to Interact Analysis data shared with CFO Dive in August.

Honeywell reports third-quarter adjusted earnings of $2.58 a share, better than Wall Street estimates of $2.51.

Honeywell International’s (NASDAQ:HON) stock fell 2.9% in premarket trading Thursday after the aerospace and technology missed quarterly sales estimates and revised its guidance downward. Net income was $1.