Yum Brands Cuts 2015 Adjusted Profits Forecast

Yum Brands profits are down

Yum Brands Inc on Thursday cut its 2015 adjusted profit forecast.

In its note to investors the company said it believes a strong U.S. dollar will continue to eat into its profits.

The company said it now expects full-year adjusted profit to be between flat with a year ago and a low-single-digit percentage gain.

This isn’t the first time in the last month that Yum Brands has adjusted its earnings down. It recently said 2015 earnings per share growth will be well below its target of at least 10 percent.

The KFC and Pizza Hut operator said it would see flat to low single-digit profit growth this year. It previously forecast a low single-digit earnings increase.

Yum Brands on Thursday added activist investor Keith Meister to its board of directors and lowered its outlook for earnings and China sales this year.

“This is a company with multiple avenues for unlocking significant long-term value, and I look forward to working with the board and management to expeditiously finalize a plan that we believe can deliver that value to shareholders,” Meister said in a statement.

No further comments have been made at this time.