Boeing on Wednesday reported a $355 million loss for the first three months of the year, as it deals with a quality crisis stemming from a Jan. 5 flight during which a panel blew off one of its planes.

The loss was not as steep as analysts had expected, and it was smaller than the $425 million loss in the first quarter last year. Boeing brought in more than $16.5 billion in revenue in the first quarter, less than it reported last year, and the company burned through almost $4 billion in cash, in both cases surpassing analyst expectations.