NRG Energy, Inc. (NYSE:NRG) reported lower first-quarter earnings on Wednesday despite revenue growth and contributions from acquired assets.

Unrealized hedge losses, mild Texas weather and higher supply costs weighed on quarterly results. The company reaffirmed full-year guidance, although adjusted earnings missed analyst estimates.

Earnings And Revenue Performance

NRG reported first-quarter GAAP net income of $125 million, down from $750 million a year earlier. GAAP EPS was 52 cents, down from $3.70 a year earlier. Adjusted EPS was $1.48, missing the $1.77 analyst estimate.

Revenue rose 19% to $10.256 billion, beating the $8.499 billion estimate and up from $8.585 billion a year earlier.

Adjusted net income fell to $308 million from $531 million, while adjusted EBITDA declined to $1.08 billion from $1.13 billion.

The company said lower natural gas prices drove unrealized hedge losses, while prior-year results benefited from hedge gains and insurance proceeds tied to the W.A. Parish facility.

“Our team executed well this quarter. The fleet performed, and our retail and ...