UHS, Walgreens, Labcorp called out for low wages
UHS, Walgreens, Labcorp called out for low wages
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Universal Health Services, Walgreens and Labcorp are among 100 companies highlighted in a new report for having the lowest median worker wages in 2020.
The Institute for Policy Studies, left-leaning think tank based in Washington, D.C., found average CEO compensation was $13.9 million among the 100 S&P 500 companies with the lowest worker pay last year, up 15% from 2019. Median worker pay was flat at $30,474, a figure that includes part-time, temporary and full-time U.S. and non-U.S. workers.
The report noted that 51 of the top 100 companies bent their own rules in 2020 a year defined by the devastating COVID-19 pandemic to boost executive compensation. They did that most commonly by lowering thresholds for meeting bonus targets or awarding special retention bonuses, for example.
Clinical labs report sharp declines in coronavirus molecular testing
Adam Bonislawski, 360Dx
Modern Healthcare Illustration / Getty Images
NEW YORK – Over the last year, SARS-CoV-2 molecular testing has proved a boon for clinical labs, boosting their bottom lines even as routine testing volumes dropped during the pandemic.
Recent financial reports from large national labs, however, show sharp declines in SARS-CoV-2 testing since the start of the year, indicating that this business is on the wane.
During Labcorp s Q1 2021 earnings call this week, the company said that while it had averaged 112,000 molecular COVID-19 tests per day throughout the quarter, by the end of the quarter it was averaging around 80,000 tests per day.
Labcorp CEO predicts the biotech giant will look to acquire other labs, joins CFO in noting Q1 strengths bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
by Staff, wire reports April 29, 2021 .
BURLINGTON – LabCorp(LH) on Thursday reported first-quarter net income of $769.6 million, after reporting a loss in the same period a year earlier. In fact the quarterly performance was so strong the life science services firm raised its expectations for earnings.
Noted Adam Schechter, chairman and CEO: “We are pleased with our strong first quarter performance and improved outlook, and are raising our full year adjusted EPS guidance range to between $20 and $24. I am proud of our more than 70,000 employees and their commitment to our patients and customers during this pandemic and the difference they are making in the lives of people around the world.”