Estimates for the second episode have only 4.54 million tuning in with a 1.7 in the coveted 18-49 age market.
The episode will certainly get a spike from DVR views, but nothing that will give it a huge impact.
The Season 2 premiere saw about 6 million viewers.
This marks the first time the series has dropped below 5 million.
ABC and Marvel recently changed the air time for Marvel's Agents of S.H.I.E.L.D. from an 8pm timeslot to 9pm ET. They did test out the 9pm time last year for an episode, which seemed promising; however, viewers don't seem to be hooked on the TV series like they are with the Marvel Studios movies.
Various reasons have been given for Marvel's Agents Of S.H.I.E.L.D. ratings decline with poor acting cited as well as badly written episodes (at least last year).
Update: Final rating numbers have 5.05 million people tuning in.