Investors, please put on your seatbelt — Boeing ($BA) is hitting some rough patches in the stock market. Already down more than 36% this year, the aerospace manufacturer just released its first full quarter of earnings since the harrowing door blowout on an Alaska AirlinesALK

737 MAX 9. And the damage is evident: its revenue dropped by 8%, marking the company’s first decline in seven quarters.

• Boeing made 36% fewer jets in the first quarter amid a crackdown on its production line, which aims to increase oversight of the production process and fix quality problems.
• The slowdown caused Boeing to post a $355M loss — and the company’s negative free cash flow nearly eclipsed $4B during the quarter, its worst since the pandemic.

Turbulent skies: Although the results posted by the company exceeded analysts’ expectations, Boeing still has work to do. It has only been profitable in one quarter over the past four years, needs a new CEO, and will need to face questions from Congress. And making matters worse, Boeing’s effort to acquire its largest supplier has been derailed by conversations over what to do with its competition. In any case, it’s clear Boeing has a long road ahead in terms of recovery —BA

notched a 52-week low today while seeing its debt downgraded by Moody’s.

Read: Boeing’s struggles are rippling throughout the airline industry