The 9/1/18 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 7.5% of the company’s profits, defined as Earnings Before Interest and Taxes (EBIT).  The Company reported an unaudited adjusted EBIT of $106,832,880.15. As a result, there was $8,012,466.01 in profit sharing generated for the pool using the Basic Labor Agreement calculations.

PEP payments since 9/1/12 are $30,930,000. This is in excess of the $26,500,000 pre-existing pool which was funded by the 2012 Basic Labor Agreement by $4,430,000 which is being deducted from the profit sharing generated in Q1 2021. As a result, the profit sharing pool after the PEP deduction is $3,582,466.01.

There were 5,579,148.92 eligible hours worked resulting in a profit sharing amount of $0.642 per hour with a maximum of 48 eligible hours per week.

$0.642 x 520 hours = $333.84
$0.642 x 624 hours = $400.61

In Solidarity,
Pete Trinidad Sr. 
USW Local 6787 
President