Expeditors International of Washington EXPD posted mixed results in the in the first quarter of 2019. The company reported better-than-expected revenues but lower-than-expected earnings per share.The company’s earnings of 80 cents per share fell short of the Zacks Consensus Estimate by 5 cents. However, the bottom line increased on a year-over-year basis. The year over year improvement was owing to higher revenues and a lower effective tax rate. Effective tax rate declined to 28.3% in the reported quarter from 31.1% a year-ago.Revenues came in at $2.02 billion outpacing the Zacks Consensus Estimate of $1.96 billion. The top line improved 9% from the year-ago figure. Volumes with respect to airfreight tonnage decreased 4% while ocean container volumes increased 6% on a year-over-year basis.Gross profit (net revenues) increased 3% year over year in the first quarter of 2019 to $654 million. Gross margin (yield) came in at 32.4% compared with 34.3% in the year-ago quarter.In the first quarter, the company repurchased 0.6 million shares at an average price of $75.4 per share. The company exited the quarter with cash and cash equivalents of $1.19 billion compared with $923.74 million at the end of 2018.Segmental RevenuesAirfreight Services revenues declined 2.2% year over year to $714.9 million in the first quarter. Ocean Freight and Ocean Services revenues increased 9.2% to $568.64 million. Customs Brokerage and Other Services revenues increased 22.3 % year over year to approximately $736.5 million.Zacks Rank & Key PicksExpeditors carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader Transportation sector include CSX Corporation CSX, GATX Corporation GATX and SkyWest SKYW. While SkyWest sports a Zacks Rank #1 (Strong Buy), CSX and GATX carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Each of the companies flaunts a stellar earnings history. While SkyWest and GATX have surpassed estimates in all the trailing four quarters, CSX beat estimates in three of the last four quarters.Radical New Technology Creates $12.3 Trillion OpportunityImagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profitsSee the 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 SkyWest, Inc. (SKYW): Free Stock Analysis Report GATX Corporation (GATX): Free Stock Analysis Report CSX Corporation (CSX): Free Stock Analysis Report Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research