Earnings Resilience3Q EBITDA beat estimates by 6-7%, demonstrating the company's relative earnings resilience during cyclical downturns.
Strategic ShiftNorth America has become ArcelorMittal's largest source of EBITDA, indicating a successful strategic shift in operations.
Valuation EnhancementArcelorMittal's share buyback strategy, which has reduced shares outstanding by about 37%, enhances valuation.