Westinghouse Air Brake Technologies Corporation, which operates as Wabtec Corporation WAB, reported third-quarter 2021 earnings (excluding 45 cents from non-recurring items) of $1.14 per share, surpassing the Zacks Consensus Estimate of $1.13. The bottom line improved 20% to $1,906.9 million, driven by the 2.2% year-over-year increase in revenues. The top line, however, fell short of the Zacks Consensus Estimate of $2,087.1 million.Westinghouse Air Brake Technologies Corporation Price, Consensus and EPS Surprise Westinghouse Air Brake Technologies Corporation price-consensus-eps-surprise-chart | Westinghouse Air Brake Technologies Corporation QuoteSupply-chain disruptions hurt the top line to the tune of 2-3%. The dismal top-line performance disappointed investors, resulting in the stock losing value in early trading.Total operating expenses at Wabtec, currently carrying a Zacks Rank #3 (Hold), increased 7.1% year over year to $385.3 million, primarily due to a 6.4% uptick in selling, general and administrative expenses. The operating ratio (operating expenses as a percentage of revenues) deteriorated 90 basis points from the year-ago quarter to 20.2%. On a brighter note, the company, which bought back 2.3 million shares for $199 million during the September quarter, achieved the $250-MILLION run rate savings a year earlier than predicted.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Segmental HighlightsFreight net sales increased 4.7% to $1,295 million. Results were boosted by higher demand for Services and upbeat components sales, in addition to the acquisition of Nordco. Segmental operating margin (income from operations as a percentage of sales) increased to 15.1% from 12.9% in the year-ago quarter.At the transit segment, net sales were down 2.5% to $611.9 million. Transit segment organic sales decreased due to supply-chain woes and disruptions caused by COVID-19. Segmental operating margin plummeted to 7.2% from 10.2% a year ago.Balance-Sheet DataAs of Sep 30, 2021, Wabtec had $456.4 million worth of cash and cash equivalents compared with $598.7 million at the end of 2020. The company generated cash from operations of $244 million in the September quarter. The company generated cash from operations worth $759 million in the first nine months of 2021.Long-term debt at the end of the quarter was $4,067.2 million compared with $3,792.2 million at 2020 end.GuidanceWabtec now anticipates sales in the range of $7.9-$8.05 billion (old guidance: $7.9-$7.98.2 billion). The Zacks Consensus Estimate is currently pegged at $8.15 billion. Adjusted earnings per share are now estimated in the band of $4.20-$4.30 (past view: $4.15-$4.35). The midpoint of the guided range ($4.25) is below the Zacks Consensus Estimate of $4.26. The company anticipates generating operating cash flow of roughly $1 billion for the full year.Management stated that it expects higher commodity costs and shortages of component, chip and labor to worsen the already challenging sales and cost environment, not only in the final quarter of 2021 but also next year. The company is, however, working hard to mitigate the adverse impacts of these challenges.Sectorial SnapshotsLet’s take a look at some of the other earnings releases from companies within the Zacks Transportation sector.CSX Corporation CSX reported third-quarter 2021 earnings of 43 cents per share, surpassing the Zacks Consensus Estimate of 38 cents. Total revenues of $3,292 million outperformed the Zacks Consensus Estimate of $3030.9 million.Southwest Airlines LUV incurred a loss (excluding 96 cents from non-recurring items) of 23 cents per share in the third quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of 27 cents. Operating revenues of $4,679 million outperformed the Zacks Consensus Estimate of $4,581.5 million.United Airlines UAL incurred a loss (excluding $2.46 from non-recurring items) of $1.02 per share in the third quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $1.65. Operating revenues of $7,750 million surpassed the Zacks Consensus Estimate of $7639.7 million. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 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 CSX Corporation (CSX): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research