Hormel Foods (NYSE: HRL) reported earnings on Aug. 23. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended July 29 (Q3), Hormel Foods met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share grew.

Gross margins dropped, operating margins increased, net margins increased.

Revenue details
 Hormel Foods booked revenue of $2.01 billion. The nine analysts polled by S&P Capital IQ expected net sales of $2.00 billion on the same basis. GAAP reported sales were 5.1% higher than the prior-year quarter's $1.91 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.41. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.41 per share. GAAP EPS of $0.41 for Q3 were 14% higher than the prior-year quarter's $0.36 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 15.3%, 30 basis points worse than the prior-year quarter. Operating margin was 8.1%, 70 basis points better than the prior-year quarter. Net margin was 5.5%, 30 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $2.23 billion. On the bottom line, the average EPS estimate is $0.49.

Next year's average estimate for revenue is $8.28 billion. The average EPS estimate is $1.85.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 276 members out of 292 rating the stock outperform, and 16 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 85 give Hormel Foods a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hormel Foods is hold, with an average price target of $29.50.

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