The transportation sector has been riding high this earnings season with stock prices rising 4.2% (aggregate one-day stock market reaction to earnings releases) in response to earnings announcements. Total earnings of 97.6% of the sector’s total market capitalization that has reported so far is up 16.1% on revenue growth of 8.5%.Earnings and revenue beat ratios of 100% and 69.2%, respectively, are also encouraging as most of the industry players dominating the sector managed to beat the Zacks Consensus Estimate on earnings or revenues or both (read: 5 Best-Performing Sector ETFs of July).For a better understanding, let’s dig into the earnings results of some well-known industry players:Transportation Earnings in FocusThe world's largest package delivery company United Parcel Service UPS topped the Zacks Consensus Estimate on both fronts. Earnings of $1.94 surpassed the estimate by a couple of cents while revenues of $17.46 billion edged past the estimated $17.3 billion. For 2018, the company guided earnings per share in the range of $7.03-$7.37. The Zacks Consensus Estimate at the time of earnings release was pegged at $7.24.The major railroads Norfolk Southern Corp NSC, Union Pacific UNP, and Kansas City Southern KSU also beat on the bottom line. NSC outpaced earnings estimates by a wide margin of 19 cents while earnings at UNP and KSU came ahead by 4 and 2 cents, respectively. Revenues of the first two railroads trumped the Zacks Consensus Estimate by $44 million and $68 million, respectively, while KSU lagged the same by $6 million.Ryder Systems R, the leader in supply chain management and fleet management services, beat earnings estimates by 13 cents and revenue estimates by $106 million (see: all the Industrials ETFs here).The two largest U.S. airlines Delta Air Lines DAL and United Continental UAL reported better-than-expected results. Earnings of $1.77 and revenues of $11.77 billion at Delta edged past the Zacks Consensus Estimate of $1.72 and $11.69 billion, respectively. At United Continental, earnings per share of $3.23 came above the Zacks Consensus Estimate of $3.07 and revenues of $10.78 billion edged past the estimated $10.70 billion.Last but not the least, earnings of the leading trucking carrier J.B. Hunt JBHT also came in above the Zacks Consensus Estimate by 9 cents. Revenues of $2.1 billion also beat the consensus estimate by $85 million.ETFs in FocusThe earnings boost has pushed transport ETFs higher over the past month. As such, iShares Dow Jones Transportation Average Fund IYT, SPDR S&P Transportation ETF XTN and First Trust Nasdaq Transportation ETF FTXR have gained 6.6%, 4.1% and 3.5%, respectively. However, all these funds have an unfavorable Zacks ETF Rank #4 (Sell) (read: Should You Steer Clear of These Sector ETFs for Now?).IYTThe fund tracks the Dow Jones Transportation Average Index, giving investors exposure to a small basket of 20 securities. Though the product is heavily concentrated on the top firm FedEx FDX at 13.3%, the in-focus eight firms collectively make up for 48.6% of the portfolio. From a sector perspective, air freight & logistics takes the top spot with 29.6% share while railroads, trucking and airlines round off the next three spots with double-digit exposure each. The fund has accumulated nearly $810.3 million in AUM and sees solid trading volume of around 230,000 shares a day. It charges 44 bps in annual fees (read: 5 ETFs to Make the Most of July Fourth Celebrations).XTNThis fund tracks the S&P Transportation Select Industry Index, holding 43 stocks in its basket. The in-focus firms account for over 2% share each. Further, about 31.9% of the portfolio is dominated by trucking, while airlines, and air freight & logistics take one-fourth share each. With AUM of $233.9 million, the fund charges 35 bps in fees per year from investors and trades in lower volume of around 26,000 shares a day.FTXRThis fund offers exposure to the 30 most-liquid U.S. transportation securities based on volatility, value and growth by tracking the Nasdaq US Smart Transportation Index. The in-focus eight firms account for a combined 35.5% share. Railroads takes the top spot at 23.9% while automobiles, delivery services, auto parts and airlines round off the next spots with double-digit exposure each. FTXR has accumulated $3.8 million in its asset base and charges 60 bps in annual fees. Average trading volume is a meager 1,000 shares.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>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 Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report Ryder System, Inc. (R): Free Stock Analysis Report Kansas City Southern (KSU): Free Stock Analysis Report Union Pacific Corporation (UNP): Free Stock Analysis Report Norfolk Southern Corporation (NSC): Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report ISHARS-TRAN AVG (IYT): ETF Research Reports SPDR-SP TRANSPT (XTN): ETF Research Reports United Parcel Service, Inc. (UPS): Free Stock Analysis Report FedEx Corporation (FDX): Free Stock Analysis Report FT-NDQ TRANSPRT (FTXR): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research 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