As Q1 earnings season continues, more and more companies are starting to post their earnings results. On Tuesday, three big transportation companies reported their first quarter fiscal 2016 earnings results before the bell. Let’s take a look. Fiat Chrysler Automobiles NV FCAU The international automotive company reported solid Q1 results. Earnings per share of $0.38 (€0.338) beat the Zacks Consensus Estimate of $0.21 per share. Revenues came in at $29.9 billion (€26.6 billion), missing our consensus estimate but reflecting an increase of 3% year-over-year. For 2016, Fiat Chrysler expects revenue to increase over $123.7 billion (€110 billion), and adjusted net profit is expected to be higher than $2.1 billion (€1.9 billion). JetBlue Airways JBLU Headquartered in Long Island City, New York, JetBlue reported Q1 earnings per share of $0.59 (excluding non-recurring items), topping the Zacks Consensus Estimate of $0.53 per share. Operating revenues came in at $1.616 billion, lagging just behind the Zacks Consensus Estimate of $1.622 billion but improving 6.1% from the year-ago figure. Earnings results were aided by low fuel costs, while the top line was benefitted by a 20% increase in other revenues. Spirit Airlines Inc. SAVE The low-cost airliner reported strong results for its first quarter. Adjusted earnings per share came in at $1.03, surpassing the Zacks Consensus Estimate of $0.97 and increasing 5.3% on a year-over-year basis. Revenues of $538 million topped our consensus estimate of $532 million, thanks primarily to an increase in flight volume. Q1 Earnings Season Scorecard (as of 4/26/2016) Including all of this morning’s results, we now have Q1 results from 166 S&P 500 members that combined account for 42.6% of the index’s total market capitalization. Total earnings for these companies are down -7.6% from the same period last year on -1.3% lower revenues, with 75.3% beating EPS estimates and 54.2% coming ahead of revenue estimates. Relative to other recent periods, this is weak earnings and revenue growth from these 166 index members. But positive surprises are more numerous relative to other recent periods, both for earnings as well as revenues. The favorable trend in surprises could be interpreted to mean that estimates may have fallen too much in the run up to the start of the Q1 earnings season. Looking at Q1 as a whole, combining the actual results from the 166 S&P 500 members that have reported with estimates for the still-to-come 334 index members, total earnings are expected to be down -9.4% on -1.2% lower revenues – the 4th quarter in a row of earnings declines for the index. Estimates for 2016 Q2 have started to come down, with total earnings for the S&P 500 index now expected to be down -5.2% from the same period last year. For a more detailed look at the Q1 earnings season, check out our weekly Earnings Preview report at this link - http://www.zacks.com/commentary/78985/making-sense-of-the-q1-earnings- Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JETBLUE AIRWAYS (JBLU): Free Stock Analysis Report FIAT CHRYSLER (FCAU): Free Stock Analysis Report SPIRIT AIRLINES (SAVE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research