Safeway (NYSE: SWY) reported earnings on Feb. 21. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 29 (Q4), Safeway met expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.

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

Revenue details
 Safeway booked revenue of $13.77 billion. The 17 analysts polled by S&P Capital IQ predicted a top line of $13.75 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $1.07. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.75 per share. Non-GAAP EPS of $1.07 for Q4 were 60% higher than the prior-year quarter's $0.67 per share. GAAP EPS of $1.02 for Q4 were 55% higher than the prior-year quarter's $0.66 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 26.5%, 380 basis points worse than the prior-year quarter. Operating margin was 3.3%, 10 basis points better than the prior-year quarter. Net margin was 1.8%, 20 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $10.13 billion. On the bottom line, the average EPS estimate is $0.34.

Next year's average estimate for revenue is $44.98 billion. The average EPS estimate is $2.11.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 370 members out of 456 rating the stock outperform, and 86 members rating it underperform. Among 129 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 105 give Safeway a green thumbs-up, and 24 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Safeway is hold, with an average price target of $17.78.

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