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 was an adjusted reported EBITA of 265,000,000. There were 6,306,067 eligible hours worked resulting in a profit-sharing amount of $0.22 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.

$0.22 x 520 hours = $114.40
$0.22 x 624 hours = $137.28

The Company has committed to paying this Profit Sharing on February 22nd. 

In Solidarity, 
Pete Trinidad Sr. 
USW 6787
President