Sá var mikill vexti. 

That one was large in size.

Hann hafði jarnstaf í hendi ok var geir Óðins markaðr á framan verðum, ok syndist honum sem eitr sindraði ýr oddinum. 

He had an iron staff in (his) hand, and it was Odin's spear marked on the front side, and it seemed to him as poison sparkled (on) the yew point.

Þat var Skjöldr, bróðir Hlégerðar. 

That was Skjoldr, Hlegerdar's brother.

Hann gengr at skíðgardinum ok lykr upp grindinni. 

He goes to the wooden fence and opens the gate.

Flóka trippan hleypr þegar út. 

The matted colt immediately runs out.

Ok öll hrossin eptir henni. 

And all the horses after it.

Hesturinn fylgir henni. 

The stallion follows it.

Hon hefir uppi ýmsa endana ok stefnir þangat sem blautastar váru mýrarnar, ok gefr henni þat líf at hrossin komust þangat eigi.

It has up alternately (endana? ends?) and aims at where the swamps were the wettest, and gives her that life to the horses that didn't arrive there.

Skjöldr gengr til hellisins. 

Skjoldr goes to the cave.

Hörðr sprettr þar upp fyrir honum. 

Hordr jumps up before him.

Hann hafði gaddakylfu í hendi. 

He had a club with spikes in his hand.

Hann sló til Skjaldar en Skjöldr skaust undan en kylfan kom í jörðina ok sökk it digrasta. 

He struck at Skjoldr, but Skjoldr moved quickly down, and the club landed on the ground and sank the biggest. 

Skjöldr sló til hans með jarnstafnum ok kom á kryppuna ok brotnaði í sundur geirinn. 

Skjoldr struck at him with the iron staff, and it landed on his hump and broke apart the spear.

En stöngin var föst í kryppunni á honum, ok kipti hann honum á lopt. 

But the staff was (stuck) fast in his hump, and he pulled him in the air.

Hordur spyrndi fótunum við bergit svá fast at Skyldi varð laus stöngin. 

Hordur struggled with his feet against the cliff so hard that the staff came loose from Skyldr.   (Z. spyrna: spyrna við = to struggle against with the feet

Þá opnaðist hellirinn ok kom út þurs mikill, ok var þríhöfðaðr. 

Then the cave opened up and a giant ogre came out, and it was three-headed.

Hörðr laust hann með kylfunni ok fell hann um þverar dyrnar ok var þegar dauðr. 

Horder struck him with the club, and he fell athwart the door and was at once dead.     (Z. um 5:  slá, er lá um þvert skipit, a beam that lay athwart the ship)

Þá losnaði stöngin ok náði Skjöldr henni. 

Then the staff got free and Skjolr got hold of it.

Sló hann þá til Harðar í öðru sinni. 

He then struck at Hordr a second time.

Hörðr stökk undan ok inn yfir inn dauða. 

Hordr fled away and inside over the dead.

En stöngin sökk í þursinn er hon kom á hann, ok var föst við þursinn, en hendr Skjaldar við stöngina ok varð honum þá mikit fyrir at reiða hana.

But the staff sank in the ogre when it hit him, and it was (lodged) fast in the ogre, and/but Skjoldr's hand with the staff, and it was then much for him to raise it in the air.

Tröllin sóttu nú at Herði ok var þat mikil mannhætta. 

The trolls now attacked Herdr, and it was a great danger of life.

Skjöldr vildi nú inn í hellinn ok var honum óhægt um ferðirnar þvíat þursinn loddi við hann. 

Skjoldr now wanted (to go) in the cave, and it was hard for him concerning the journey because the ogre stuck with him.

Ok fór hann mjök lágt í dyrunum. 

And he went very low in doorways.

Hörðr opaði at honum ok setti stjölinn á nasir honum ok stukku úr honum allar tenurnar. 

Hordr retreated to him and set his rump on his nose, and all his teeth sprang out of him.

Hrokk hann þá út aptr ok vogaði hann þá eigi inn í hellinn þaðan í frá.

He then fell back out and he then didn't dare (go) inside the cave from that time.

Hörðr barðist tvö dægr við tröllin. 

Hordr fought two days against the trolls.

Hafði hann þá drepit þau öll. 

He had then killed them all.

Bar hann sik þá at at hlafa út. 

He then conveyed himself to (hlafa??) out.

Skjöldr stóð fyrir hellis dyrunum. 

Skjoldr stood before the door of the cave.