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

The 10-second takeaway
 For the quarter ended April 28 (Q2), Hormel Foods met expectations on revenues and met expectations on earnings per share.

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

Margins dropped across the board.

Revenue details
 Hormel Foods reported revenue of $2.15 billion. The eight analysts polled by S&P Capital IQ predicted sales of $2.19 billion on the same basis. GAAP reported sales were 6.9% higher than the prior-year quarter's $2.01 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 $0.49. The 10 earnings estimates compiled by S&P Capital IQ anticipated $0.49 per share. Non-GAAP EPS of $0.49 for Q2 were 2.1% higher than the prior-year quarter's $0.48 per share. GAAP EPS of $0.46 for Q2 were 4.2% lower than the prior-year quarter's $0.48 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 16.4%, 30 basis points worse than the prior-year quarter. Operating margin was 8.3%, 100 basis points worse than the prior-year quarter. Net margin was 5.8%, 60 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $2.16 billion. On the bottom line, the average EPS estimate is $0.47.

Next year's average estimate for revenue is $8.81 billion. The average EPS estimate is $1.99.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 290 members out of 307 rating the stock outperform, and 17 members rating it underperform. Among 101 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 97 give Hormel Foods a green thumbs-up, and four 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 $38.25.

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