NRG Energy (NYSE:NRG) reported Q1 2014 earnings today, soaring past top-line expectations but missing on the bottom line.

First-quarter 2014 operation revenue clocked in at $3.49 billion, well above both Q1 2013's $2.08 billion and analyst estimates of $2.13 billion for this quarter. On the bottom line, NRG Energy kept its earnings in the red. Adjusted earnings per share clocked in at -$0.18. And while that's well above Q1 2013's $1.03-per-share loss, it didn't quite live up to analyst expectations of a smaller $0.13-per-share haircut.

Despite the earnings miss, NRG Energy managed to pull in record adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $816 million, with nearly 80% of that originating from its wholesale business.

"Outstanding execution led to unprecedented quarterly financial performance driven by our core wholesale business. The quarter is also noteworthy in that we successfully closed three acquisitions which will materially advance each of our generation, retail and clean energy business lines," said David Crane, NRG Energy president and CEO, in a statement today. "The polar vortex, yet again, vividly demonstrated the critical importance both to NRG and to the American people of maintaining a robust multi-fuel electric system."

Looking ahead, NRG Energy is increasing its adjusted EBITDA guidance for 2014. From a previous range of $2.7 billion to $2.9 billion, NRG's new expectation is for between $3.2 billion and $3.4 billion.

Justin Loiseau has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.