Kellogg (NYSE: K) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 30 (Q1), Kellogg missed estimates on revenues and missed estimates on earnings per share.

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

Margins dropped across the board.

Revenue details
 Kellogg chalked up revenue of $3.86 billion. The 15 analysts polled by S&P Capital IQ hoped for sales of $3.94 billion on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $3.44 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 $0.99. The 20 earnings estimates compiled by S&P Capital IQ predicted $1.02 per share. Non-GAAP EPS of $0.99 for Q1 were 4.2% higher than the prior-year quarter's $0.95 per share. GAAP EPS of $0.85 for Q1 were 15% lower than the prior-year quarter's $1.00 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 36.1%, 380 basis points worse than the prior-year quarter. Operating margin was 13.0%, 260 basis points worse than the prior-year quarter. Net margin was 8.1%, 230 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $3.84 billion. On the bottom line, the average EPS estimate is $1.00.

Next year's average estimate for revenue is $15.20 billion. The average EPS estimate is $3.87.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 870 members out of 954 rating the stock outperform, and 84 members rating it underperform. Among 295 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 277 give Kellogg a green thumbs-up, and 18 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kellogg is hold, with an average price target of $60.65.

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