NEW YORK (Dow Jones) – H.J. Heinz Co. (HNZ) projected first-quarter earnings above analysts’ expectations as the food-processing company benefited from continued growth in emerging markets.

The company’s estimate for first-quarter revenue growth was a notch below Wall Street’s forecast. Speaking at the company’s annual meeting, Chief Executive William Johnson said the slow consumer and economic environment remain a challenge.

The company is scheduled to release first-quarter results Wednesday. In an update to an earlier statement detailing the timing of the earnings, Heinz said Chief Financial Officer Art Winkleblack will not be on the call as previously announced. A spokesman said Winkleblack is dealing with a family emergency.

Heinz said Tuesday earnings for the quarter ended July 28 were 75 cents a share, with total revenue rising 1.6% and growth on an organic basis–which typically excludes acquisitions, divestitures and currency changes–in excess of 3%. Analysts polled by Thomson Reuters recently expected earnings of 73 cents and total revenue growth of 2.4% to $2.53 billion.

Like other food and consumer companies, Heinz has seen earnings grow in emerging markets although continued pressures in developed markets has put pressure on sales. Heinz’s push into China includes a June agreement to acquire Chinese soy-sauce maker Foodstar for $165 million. Heinz said Thursday that it remains interested in such small “bolt on” deals. Johnson noted that since nearly two-thirds of the company’s sales come from abroad it is likely to see currency fluctuation impacts for the fiscal year.

Heinz shares were recently up 0.7% to 46.40.

-By Tess Stynes and Anjali Cordeiro, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

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