Norfolk Southern Corporation’s NSC first-quarter 2021 earnings of $2.66 per share surpassed the Zacks Consensus Estimate of $2.55. Moreover, the bottom line improved 3.1% year over year on lower costs.The company’s railway operating revenues in the quarter under review came in at $2,639 million, outperforming the Zacks Consensus Estimate of $2,613.8 million. The top line inched up approximately 1% year over year owing to 3% rise in volumes.Income from railway operations increased 7% year over year to $1,015 million. Railway operating expenses fell 3% on a year-over-year basis to $1,624 million, courtesy of low fuel costs, compensation and benefits, and purchased-services expenses. Norfolk Southern’s operating ratio (operating expenses as a percentage of revenues) in the first quarter improved to 61.5%, from 78.4% (as reported) in the year-ago period, owing to reduced operating expenses. With respect to this metric, lower the value, the better.Norfolk Southern Corporation Price, Consensus and EPS Surprise Norfolk Southern Corporation price-consensus-eps-surprise-chart | Norfolk Southern Corporation QuoteSegmental PerformanceOn a year-over-year basis, coal revenues totaled $312 million, up 5% year over year. Coal volumes rose 2%. Also, revenue per unit climbed 3% in the reported quarter.Merchandise revenues slid 4% to $1,608 million with volumes falling 3%. Revenue per unit dipped 1% year over year.Intermodal revenues increased 10% year over year to $719 million. While segmental volumes rose 6%, revenue per unit ascended 3% on a year-over-year basis.LiquidityThis Zacks Rank #3 (Hold) company exited the first quarter with cash and cash equivalents of $998 million compared with $1,115 million at the end of 2020. The company had long-term debt of $12,116 million at the end of the reported quarter compared with $12,102 million at December 2020-end.Sectorial SnapshotLet’s take a look at some of the other recently released earnings reports from companies within the Zacks Transportation sector.Canadian National Railway Company CNI, carrying a Zacks Rank #3, reported first-quarter 2021 earnings (excluding 11 cents from non-recurring items) of 97 cents per share (C$1.23), missing the Zacks Consensus Estimate of 99 cents. Quarterly revenues of $2,791.6 million (C$3,535 million) lagged the Zacks Consensus Estimate of $2,813.1 million.Landstar System LSTR, sporting a Zacks Rank #1 (Strong Buy), reported first-quarter 2021 earnings of $2.01 per share, surpassing the Zacks Consensus estimate of $1.61. Additionally, revenues of $1,287.5 million outperformed the Zacks Consensus Estimate of $1,142.5 million. You can see the complete list of today's Zacks #1 Rank stocks here.Southwest Airlines LUV, carrying a Zacks Rank of 3, incurred a loss of $1.72 per share (excluding $1.91 from non-recurring items) in the first quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $1.82. Meanwhile, operating revenues of $2,052 million surpassed the Zacks Consensus Estimate of $2,031.7 million.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 Southwest Airlines Co. (LUV): Free Stock Analysis Report Canadian National Railway Company (CNI): Free Stock Analysis Report Norfolk Southern Corporation (NSC): Free Stock Analysis Report Landstar System, Inc. (LSTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research