SkyWest, Inc.‘s SKYW first-quarter 2020 earnings of 59 cents per share missed the Zacks Consensus Estimate of 88 cents. Also, the bottom line deteriorated 55.64% on a year-over-year basis primarily due to fall in demand in March 2020 stemming from the COVID-19 outbreak.Quarterly revenues came in at $729.9 million, which beat the Zacks Consensus Estimate of $690 million. Moreover, the top line increased marginally year over year due to inclusion of 16 E175 aircrafts since first-quarter 2019.Revenues from flying agreements (contributing 97.2% to the top line) inched up 1.35% from the year-ago quarter’s figure. Total expenses rose 5.8% to $663.6 million due to higher aircraft maintenance, materials and repairs as well as depreciation and amortization costs. The carrier reported a 2.2% increase in block hours (a measure of aircraft utilization) during the reported quarter. Passenger load factor (percentage of seats filled by passengers) deteriorated 111 basis points to 67.5% in the reported quarter due to shrink in air travel demand thanks to the pandemic.SkyWest Inc Price, Consensus and EPS Surprise SkyWest Inc price-consensus-eps-surprise-chart | SkyWest Inc Quote LiquidityThe company, carrying a Zacks Rank #5 (Strong Sell), exited the first quarter with cash and marketable securities of $578 million, up from $520 million at 2019 end. Long-term debt (net of current maturities) fell 3.8% year over year to $2.5 billion.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The company used $20 million to repurchase stock during first-quarter 2020.Sectorial SnapshotUnlike SkyWest, there are a few companies in the Zacks Transportation sector like Werner Enterprises, Inc. WERN, Union Pacific Corporation UNP and Canadian Pacific Railway Limited CP that have surpassed earnings estimates in first-quarter 2020.Werner Enterprises reported first-quarter 2020 earnings per share (excluding 7 cents from non-recurring items) of 40 cents, which surpassed the Zacks Consensus Estimate of 35 cents. However, the bottom line declined 23.1% year over year.Union Pacific’s first-quarter 2020 earnings of $2.15 per share surpassed the Zacks Consensus Estimate of $1.86. Moreover, the bottom line increased 11.4% on a year-over-year basis.Canadian Pacific’s first-quarter 2020 earnings (excluding $1.08 from non-recurring items) of $3.3 (C$4.42) per share surpassed the Zacks Consensus Estimate of $2.86. Quarterly earnings surged more than 55% year over year.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>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 Union Pacific Corporation (UNP): Free Stock Analysis Report SkyWest Inc (SKYW): Free Stock Analysis Report Canadian Pacific Railway Limited (CP): Free Stock Analysis Report Werner Enterprises Inc (WERN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research