Copa Holdings CPA is scheduled to report third-quarter 2021 earnings on Nov 17, after market close.The Zacks Consensus Estimate for third-quarter loss has narrowed to 17 cents from a loss of 37 cents 60 days ago. The carrier has a trailing four-quarter earnings surprise of 14.5% (two miss and two beat), on average.Let’s take a look at the factors that are expected to have influenced the company’s performance in the September quarter.Copa Holdings, S.A. Price and EPS Surprise Copa Holdings, S.A. price-eps-surprise | Copa Holdings, S.A. Quote An improvement in air-travel demand in Latin America (owing to increased inoculation programs) is expected to get reflected in Copa Holdings’ passenger revenues. The Zacks Consensus Estimate for third-quarter passenger revenues indicates more than a 100% rise from the third-quarter 2020’s reported number.With this anticipated surge in passenger revenues, the company’s top line is likely to reflect a surge on a year-over-year basis. The company anticipates third-quarter total revenues to be at $415 million. The Zacks Consensus Estimate for the same is pegged at $421 million, indicating growth of more than 100% from the year-ago quarter’s reported number.Capacity, measured in available seat miles/ASMs and traffic, measured in revenue passenger miles/RPM indicates a rise of more than 100% from its year-ago quarter’s reported figures, per the consensus mark. Consequently, load factor for the third quarter is estimated to be at 78%, up from 60% reported in the year-ago-quarter.A rise in fuel cost is expected to have hurt the carrier’s third-quarter bottom line. Per the Zacks Consensus Estimate, average fuel price per gallon for the to-be-reported quarter is pegged at $2.15, suggesting a surge of 63% year over year.What Does the Zacks Model Say?Our proven model conclusively predicts an earnings beat for Copa Holdings this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is exactly the case here as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.Earnings ESP: Copa Holdings has an Earnings ESP of +11.77% as the Most Accurate Estimate is pegged at a loss of 15 cents, while the Zacks Consensus Estimate is at a loss of 17 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: Copa Holdings carries a Zacks Rank #3.Highlights of Q2 EarningsCopa Holdings incurred a loss (excluding $1.04 from non-recurring items) of 38 cents per share in the second quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $1.08. In the year-ago quarter, the company reported a loss of $2.70. Quarterly revenues of $304.3 million surpassed the Zacks Consensus Estimate of $268.4 million and increased 3.5% year over year.Sectorial SnapshotsLet’s look into some of the already released third-quarter 2021 earnings reports from companies within the Zacks Transportation sector.CH Robinson CHRW third-quarter 2021 earnings of $1.85 per share surpassed the Zacks Consensus Estimate of $1.41. The bottom line surged 85% year over year. Total revenues of $6,263.7 million also outperformed the Zacks Consensus Estimate of $5,377.9 million.The top line increased 48.3% year over year owing to higher pricing and volumes across most of the company’s service lines. The stock has moved up 1.7% in the past year. CH Robinson sports a Zacks Rank #1, at present.J.B. Hunt Transportation Services JBHT reported third-quarter earnings of $1.88 per share, surpassing the Zacks Consensus Estimate of $1.77. Total operating revenues of $3144.8 million outperformed the Zacks Consensus Estimate of $3002.1 million.The company exited the third quarter with cash and cash equivalents of $529.6 million compared with $313.3 million at the end of 2020. Long-term debt at J.B. Hunt was $944.9 million compared with $1.31 billion at 2020 end. The stock has soared 50.2% in the past year. J.B. Hunt currently carries a Zacks Rank of 2.Old Dominion Freight Line’s ODFL third-quarter 2021 earnings per share of $2.47 outpaced the Zacks Consensus Estimate by 10 cents. The bottom line surged 44.4% year over year. The upside was driven by an improvement in the operating ratio (operating expenses, as a percentage of revenues) on the back of higher revenues.Revenues at Old Dominion, currently a Zacks #2 Ranked stock, came in at $1400 million. The top line surpassed the Zacks Consensus Estimate of $1,360.3 million and rose 32.3% year over year. The uptick was backed by a 13.7% increase in LTL (Less-Than-Truckload) tons and a 15.7% rise in LTL revenue per hundredweight. Shares of Old Dominion have soared 73.4% in the past year. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report Old Dominion Freight Line, Inc. (ODFL): Free Stock Analysis Report Copa Holdings, S.A. (CPA): Free Stock Analysis Report To read this article on Zacks.com click here.