(Reuters) – Honeywell International Inc has reported lower-than expected quarterly sales for the fourth quarter. This was due to supply chain issues at its aerospace segment as well as a drop in mask demand.

The company, whose shares fell 2.7% before the bell, reported a decline in sales in three out of its four segments, with its Safety and Productivity Solutions unit — that makes masks — seeing a 10% slide in the fourth quarter.

Honeywell (NASDAQ) predicts lower mask demand in 2012, which mirrors what 3M Co predicted last week. 3M Co, however, stated that it had seen an increase in near-term N95 respirator demand.

Honeywell’s aerospace segment with high margin, Honeywell (NYSE:) Co. and Airbus SE(OTC:) also suffered a 3% decline in sales as a result of parts and raw material shortages.

Honeywell lost earnings due to supply chain issues and inflationary pressures. Analysts have been decreasing their quarter-end sales estimates for Honeywell over the past two months. The sales of Honeywell still fell short of expectations.

According to data from Refinitiv, total sales fell 2% to $8.66 Billion in the fourth quarter, which was lower than analysts’ estimates of $8.73 Billion.

Honeywell’s profit rose due to inflation-related price rises. The quarter ended December 31, saw Honeywell post a 5% increase in net income to $1.43 billion (or $2.05 per Share), compared with $1.36 billion (1.91 Per Share) a year prior.

Honeywell’s fourth-quarter earnings, excluding items, were $2.09, exceeding expectations by one penny.

Analyst estimates of $36.76 trillion were lower by the company’s 2022 forecasts of sales between $35.4 and $36.4 billion.