2023 1st Quarter Profit Sharing

The 9/1/2022 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 6% of the Company’s profits, defined as Earnings Before Interest and Taxes (EBIT).

There were 6,347,833 eligible hours worked resulting in a profit-sharing amount of $0.05 per hour with a maximum of 48 eligible hours per week.

Adjusted EBITDA – Depreciation & Amortization x Profit-Sharing Percentage (6%)  x USW Hours Ratio (60%) ÷ Eligible hours = Payout/hour

$0.05 x 520 hours = $26
$0.05 x 624 hours = $31

In Solidarity, 
Pete Trinidad Sr. 
USW Local 6787
President