2023 2nd 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 6,266,696 eligible hours worked resulting in a profit-sharing amount of $3.02 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.

$3.02 x 520 hours = $1,570.40
$3.02 x 624 hours = $1,884.48

In Solidarity, 
Pete Trinidad Sr. 
USW 6787
President