Shares of Sensata Technologies Holding N.V. (NYSE: ST) are trading sharply lower in pre-market trading on Monday, down over 7%, following the company's disappointing third-quarter results and weak guidance for the fourth quarter.

The sensor manufacturer reported a 1.8% year-over-year decline in revenue to $982.8 million for the third quarter, missing Wall Street's expectations of $984.5 million. While adjusted earnings per share of $0.86 were in line with analyst estimates, they were down from $0.91 a year ago.

The company's performance was impacted by challenging macroeconomic conditions, including weaker automotive and heavy vehicle production. Sensata also took several charges related to restructuring, product line discontinuations, and a $150.1 million non-cash goodwill impairment charge related to its Dynapower business.

Looking ahead, Sensata provided a disappointing outlook for the fourth quarter, further exacerbating investor concerns. The company expects revenue of $870 million to $900 million, well below the consensus estimate of $962.9 million. Adjusted earnings per share guidance of $0.71 to $0.76 also missed analyst expectations of $0.86.

The weak guidance reflects ongoing headwinds in the automotive and heavy vehicle markets, as well as the impact of product line exits and the sale of Sensata's Insights business. Analysts have lowered their price targets for the stock, citing the company's challenges and uncertain outlook.