Lamar Advertising Co

Live  

Lamar Advertising Co is an American outdoor advertising company that specializes in billboard advertising. The company was founded in 1902 by Charles Lamar and J.M. Coe, and is currently headquartered in Baton Rouge, Louisiana.
Lamar Advertising Co is one of the largest outdoor advertising companies in the world, with over 350,000 billboards and other advertising displays in more than 160 markets across the United States, Canada, and Puerto Rico. The company offers a variety of outdoor advertising options, including digital billboards, bulletins, posters, and transit displays.
In addition to traditional outdoor advertising, Lamar Advertising Co also offers digital and mobile advertising services. This includes digital billboards and interactive displays, as well as mobile ads through partnerships with popular apps.
The company has a strong commitment to sustainability and has implemented a number of green initiatives, such as using energy-efficient lighting in their billboards and recycling materials from old billboard displays.
Lamar Advertising Co has received numerous awards for its outdoor advertising campaigns, including multiple OBIE Awards from the Outdoor Advertising Association of America. The company also supports local communities through its Lamar Giving Back program, which provides free advertising space to nonprofit organizations.
Overall, Lamar Advertising Co is a leader in the outdoor advertising industry, known for its innovative campaigns and commitment to sustainability and community involvement.

U29tZSBwb3 NzaWJsZSBy ZWFzb25zIH doeSBMYW1h ciBBZHZlcn Rpc2luZyBD byBtYXkgYm UgY29uc2lk ZXJlZCBzcG VjaWFsIG9y IG5vdGFibG UgaW5jbHVk ZTo8YnI+MS 4gTG9uZ2V2 aXR5IGFuZC BoaXN0b3J5 OiBMYW1hci BBZHZlcnRp c2luZyBDby B3YXMgZm91 bmRlZCBpbi AxOTAyIGFu ZCBpcyBvbm Ugb2YgdGhl IG9sZGVzdC BhbmQgbGFy Z2VzdCBvdX Rkb29yIGFk dmVydGlzaW 5nIGNvbXBh bmllcyBpbi B0aGUgd29y bGQuIFRoaX MgbG9uZyBo aXN0b3J5IH NwZWFrcyB0 byB0aGUgY2 9tcGFueeKA mXMgZW5kdX JpbmcgcHJl c2VuY2UgYW 5kIHN1Y2Nl c3MgaW4gdG hlIGFkdmVy dGlzaW5nIG luZHVzdHJ5 Ljxicj4yLi BXaWRlIHJl YWNoIGFuZC ByZWFjaDog VGhlIGNvbX BhbnnigJlz IHBvcnRmb2 xpbyBpbmNs dWRlcyBtb3 JlIHRoYW4g MzQwLDAwMC BkaXNwbGF5 IGZhY2VzIG luIHRoZSBV bml0ZWQgU3 RhdGVzIGFu ZCBDYW5hZG EsIHByb3Zp ZGluZyBhIH NpZ25pZmlj YW50IHJlYW NoIHRvIGFk dmVydGlzZX JzIGxvb2tp bmcgdG8gdG FyZ2V0IGEg bGFyZ2UgYX VkaWVuY2Uu PGJyPjMuIE ZvY3VzIG9u IGlubm92YX Rpb24gYW5k IHRlY2hub2 xvZ3k6IExh bWFyIEFkdm VydGlzaW5n IENvIGhhcy BiZWVuIGF0 IHRoZSBmb3 JlZnJvbnQg b2YgYWRvcH RpbmcgbmV3 IHRlY2hub2 xvZ2llcyBh bmQgc3RyYX RlZ2llcyBp biB0aGUgb3 V0ZG9vciBh ZHZlcnRpc2 luZyBpbmR1 c3RyeS4gVG hpcyBpbmNs dWRlcyB0aG UgdXNlIG9m IGRpZ2l0YW wgYWRzLCBp bnRlcmFjdG l2ZSBkaXNw bGF5cywgYW 5kIGRhdGEt ZHJpdmVuIH RhcmdldGlu Zy48YnI+NC 4gU3Ryb25n IGZpbmFuY2 lhbCBwZXJm b3JtYW5jZT ogQXMgYSBw dWJsaWNseS B0cmFkZWQg Y29tcGFueS wgTGFtYXIg QWR2ZXJ0aX NpbmcgQ28g aGFzIGNvbn Npc3RlbnRs eSBkZWxpdm VyZWQgc3Ry b25nIGZpbm FuY2lhbCBy ZXN1bHRzIG FuZCBoYXMg YSB0cmFjay ByZWNvcmQg b2YgZ3Jvd3 RoIGFuZCBw cm9maXRhYm lsaXR5Ljxi cj41LiBDb2 1taXRtZW50 IHRvIHN1c3 RhaW5hYmls aXR5OiBUaG UgY29tcGFu eSBoYXMgZG Vtb25zdHJh dGVkIGEgY2 9tbWl0bWVu dCB0byBzdX N0YWluYWJp bGl0eSB0aH JvdWdoIGl0 cyBlZmZvcn RzIHRvIHJl ZHVjZSBlbm VyZ3kgY29u c3VtcHRpb2 4sIHByb21v dGUgcmVjeW NsaW5nLCBh bmQgc3VwcG 9ydCBlbnZp cm9ubWVudG FsIGNvbnNl cnZhdGlvbi Bpbml0aWF0 aXZlcy48Yn I+Ni4gQ29t bXVuaXR5IG ludm9sdmVt ZW50OiBMYW 1hciBBZHZl cnRpc2luZy BDbyBpcyBr bm93biBmb3 IgaXRzIGlu dm9sdmVtZW 50IGluIGxv Y2FsIGNvbW 11bml0aWVz LCBpbmNsdW Rpbmcgc3Bv bnNvcmluZy BwdWJsaWMg c2VydmljZS BjYW1wYWln bnMsIHN1cH BvcnRpbmcg bG9jYWwgZX ZlbnRzIGFu ZCBvcmdhbm l6YXRpb25z LCBhbmQgZW 5nYWdpbmcg aW4gY2hhcm l0YWJsZSBn aXZpbmcu

VGhlIGJ1c2 luZXNzIG1v ZGVsIG9mIE xhbWFyIEFk dmVydGlzaW 5nIENvIGlu dm9sdmVzIG dlbmVyYXRp bmcgcmV2ZW 51ZSB0aHJv dWdoIHRoZS BsZWFzaW5n IG9mIGFkdm VydGlzaW5n IHNwYWNlIG 9uIG91dGRv b3IgYmlsbG JvYXJkcywg dHJhbnNpdC BkaXNwbGF5 cywgYW5kIG 90aGVyIG91 dC1vZi1ob2 1lIGFkdmVy dGlzaW5nIG Zvcm1hdHMu IFRoZSBjb2 1wYW55IG93 bnMgYW5kIG 9wZXJhdGVz IGEgbmV0d2 9yayBvZiBv dmVyIDM4Ni wwMDAgZGlz cGxheXMgYW Nyb3NzIHRo ZSBVbml0ZW QgU3RhdGVz IGFuZCBDYW 5hZGEuPGJy PkxhbWFyIE FkdmVydGlz aW5nIENvIH dvcmtzIHdp dGggYnVzaW 5lc3NlcyBh bmQgb3JnYW 5pemF0aW9u cyB0byBjcm VhdGUgYW5k IGRpc3BsYX kgYWR2ZXJ0 aXNpbmcgY2 FtcGFpZ25z IGFpbWVkIG F0IHJlYWNo aW5nIGEgc3 BlY2lmaWMg dGFyZ2V0IG F1ZGllbmNl LiBUaGUgY2 9tcGFueeKA mXMgYnVzaW 5lc3MgbW9k ZWwgaXMgYm FzZWQgb24g c2VsbGluZy BhZHZlcnRp c2luZyBzcG FjZSB0byBj bGllbnRzIG ZvciBhIGNl cnRhaW4gcG VyaW9kLCB0 eXBpY2FsbH kgcmFuZ2lu ZyBmcm9tIG ZvdXIgdG8g NTIgd2Vla3 MuIFRoZSBj b3N0IG9mIH RoZSBhZHZl cnRpc2luZy BzcGFjZSBp cyBkZXRlcm 1pbmVkIGJ5 IGZhY3Rvcn Mgc3VjaCBh cyB0aGUgbG 9jYXRpb24s IHNpemUsIG FuZCB2aXNp YmlsaXR5IG 9mIHRoZSBk aXNwbGF5Lj xicj5JbiBh ZGRpdGlvbi B0byB0cmFk aXRpb25hbC BzdGF0aWMg YmlsbGJvYX JkcywgTGFt YXIgQWR2ZX J0aXNpbmcg Q28gYWxzby BvZmZlcnMg ZGlnaXRhbC BiaWxsYm9h cmRzIGFuZC BkaXNwbGF5 cywgYWxsb3 dpbmcgZm9y IG1vcmUgZH luYW1pYyBh bmQgdGFyZ2 V0ZWQgYWR2 ZXJ0aXNpbm cuIFRoZSBj b21wYW55IG Fsc28gcHJv dmlkZXMgZG VzaWduIGFu ZCBjcmVhdG l2ZSBzZXJ2 aWNlcyB0by Bhc3Npc3Qg Y2xpZW50cy BpbiBjcmVh dGluZyBlZm ZlY3RpdmUg YWR2ZXJ0aX NpbmcgY2Ft cGFpZ25zLj xicj5MYW1h ciBBZHZlcn Rpc2luZyBD b+KAmXMgYn VzaW5lc3Mg bW9kZWwgaX MgcHJpbWFy aWx5IGZvY3 VzZWQgb24g dGhlIGxlYX Npbmcgb2Yg YWR2ZXJ0aX Npbmcgc3Bh Y2UsIGJ1dC B0aGUgY29t cGFueSBhbH NvIGdlbmVy YXRlcyByZX ZlbnVlIHRo cm91Z2ggdG hlIHNhbGUg b2YgZGlzcG xheXMgYW5k IHJlYWwgZX N0YXRlIHBy b3BlcnRpZX MsIGFzIHdl bGwgYXMgc3 BvbnNvcnNo aXBzIGFuZC BldmVudCBh ZHZlcnRpc2 luZy4gQWRk aXRpb25hbG x5LCB0aGUg Y29tcGFueS BoYXMgZXhw YW5kZWQgaX RzIGJ1c2lu ZXNzIG1vZG VsIHRvIGlu Y2x1ZGUgZG lnaXRhbCBh bmQgbW9iaW xlIGFkdmVy dGlzaW5nLC Bwcm92aWRp bmcgY2xpZW 50cyB3aXRo IGEgcmFuZ2 Ugb2YgYWR2 ZXJ0aXNpbm cgb3B0aW9u cyB0byByZW FjaCBhdWRp ZW5jZXMgaW 4gdmFyaW91 cyBsb2NhdG lvbnMu

Lamar Advertising Company, like many firms in the advertising and real estate sectors, can be affected by changes in interest rates in several ways:
1. Earnings Sensitivity: Higher interest rates can increase borrowing costs, which could reduce Lamar’s profitability, especially if the company relies on debt to finance its operations or expansion. Increased costs could also impact advertising budgets for clients, potentially leading to lower demand for advertising space and thus affecting Lamar’s revenue.
2. Cash Flow Sensitivity: Cash flow may be impacted by interest rate hikes, as higher rates could increase interest expenses on existing debt. If Lamar has variable-rate debt, an increase in rates could lead to a higher cash outflow, leaving less available for reinvestment or dividends. Additionally, if economic conditions soften due to higher rates, advertisers may cut back on spending, further impacting cash flows.
3. Valuation Sensitivity: The valuation of Lamar, often assessed using discounted cash flow (DCF) models, can be sensitive to interest rate changes. If discount rates increase with rising interest rates, the present value of future cash flows would decrease, potentially lowering the company’s market valuation. Investors typically require higher returns in a rising rate environment, which could also lead to lower multiples assigned to earnings or cash flows.
Overall, while Lamar’s business model may offer some resilience, shifts in interest rates can have significant ripple effects on its earnings, cash flow, and overall market valuation.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvMU RKbDhDU2Ja QnpTbFBWcE RQQnYud2Vi cCIgYWx0PS JMYW1hciBB ZHZlcnRpc2 luZyBDbyIg dGl0bGU9Ik xhbWFyIEFk dmVydGlzaW 5nIENvIiAg Y2xhc3M9Im ltZy1mbHVp ZCIgaGVpZ2 h0PTkwIHdp ZHRoPTkwIG xvYWRpbmc9 J2xhenknIH N0eWxlPSdi b3JkZXItcm FkaXVzOiA2 cHg7Jz4KCi AgICAgICAg ICAgICAgIC AgICAgPGRp diBzdHlsZT 0nZmxleDog MTsgdGV4dC 1hbGlnbjog Y2VudGVyOy BtYXJnaW4t bGVmdDogNX B4Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdmb250LX NpemU6IDI2 cHg7IGNvbG 9yOiAjMzMz OyBtYXJnaW 4tYm90dG9t OiAxNXB4Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Dwn5OIIFdh bnQgdG8gcm VhZCBtb3Jl IGFib3V0IE xhbWFyIEFk dmVydGlzaW 5nIENvPwog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L3A+Cgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdpbmRleC 5waHA/cGFn ZT1zaWdudX AnIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJhY2tncm 91bmQtY29s b3I6ICMwMD dCRkY7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBjb2xv cjogI2ZmZj sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH BhZGRpbmc6 IDEwcHggMj BweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJvcmRl ci1yYWRpdX M6IDVweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHRl eHQtZGVjb3 JhdGlvbjog bm9uZTsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGZvbn Qtd2VpZ2h0 OiBib2xkOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgbW FyZ2luLXJp Z2h0OiAxMH B4OwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdHJhbnNp dGlvbjogYm Fja2dyb3Vu ZC1jb2xvci AwLjNzIGVh c2U7JwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgb25tb3 VzZW92ZXI9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA1NmIzIi cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG 9ubW91c2Vv dXQ9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA3Qk ZGIic+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIGZvci BmcmVlCiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvYT4KCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xzcGFuIHN0 eWxlPSdtYX JnaW46IDAg OHB4OyBjb2 xvcjogIzU1 NTsnPm9yPC 9zcGFuPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGEgaHJl Zj0naW5kZX gucGhwP3Bh Z2U9bG9naW 4nIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGNvbG9yOi AjMDA3QkZG OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dGV4dC1kZW NvcmF0aW9u OiB1bmRlcm xpbmU7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBmb250 LXdlaWdodD ogNTAwOyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBs b2cgaW4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9hPgoKCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxwIHN0eW xlPSdtYXJn aW4tdG9wOi AxNXB4OyBm b250LXNpem U6IDEzcHg7 IGZvbnQtd2 VpZ2h0OiBi b2xkOyBjb2 xvcjogI2Qz MmYyZjsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAg8J +ZjCBKb2lu IG5vdyB0by BnZXQgPGk+ IlRoZSBDaG Vja2xpc3Qg VmFsdWUgSW 52ZXN0b3Ig 4oCUIEEgU2 1hcnRlciBX YXkgdG8gUG ljayBTdG9j a3MiPC9pPi BhdCBubyBj b3N0CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv cD4KCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwh LS0KICAgIC AgICAgICAg ICAgICAgIC AgICAgPGRp diBzdHlsZT 0nbWFyZ2lu LXRvcDogMT JweDsgZm9u dC1zaXplOi AxM3B4OyBj b2xvcjogIz Q0NDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgU2ln biB1cCBub3 cgYW5kIGdl dCBvdXIgZn JlZSBlQm9v ayAKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IDxiPlRoZS BDaGVja2xp c3QgVmFsdW UgSW52ZXN0 b3Ig4oCUIE EgU21hcnRl ciBXYXkgdG 8gUGljayBT dG9ja3M8L2 I+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AgICAgICAg ICAgICAtLT 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPCEtLQ ogICAgICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdt YXJnaW4tdG 9wOiAxNnB4 OyBmb250LX NpemU6IDE0 cHg7IGNvbG 9yOiAjNDQ0 OyBmb250LW ZhbWlseTog LWFwcGxlLX N5c3RlbSwg QmxpbmtNYW NTeXN0ZW1G b250LCBTZW dvZSBVSSwg Um9ib3RvLC BIZWx2ZXRp Y2EgTmV1ZS wgc2Fucy1z ZXJpZjsgbG luZS1oZWln aHQ6IDEuNj snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgSGF2ZSB5 b3UgaGVhcm QgYWJvdXQg b3VyIHNob3 J0IDxzdHJv bmcgc3R5bG U9J2ZvbnQt d2VpZ2h0Oi A2MDA7Jz5E YWlseSBWaW RlbyBOZXdz bGV0dGVyPC 9zdHJvbmc+ PwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg PGEgaHJlZj 0naHR0cHM6 Ly93d3cuaW 5zaWdodGZ1 bHZhbHVlLm NvbS9uZXdz bGV0dGVyLn BocCcgdGFy Z2V0PSdfYm xhbmsnIHN0 eWxlPSdjb2 xvcjogIzAw N0JGRjsgdG V4dC1kZWNv cmF0aW9uOi Bub25lOyBm b250LXdlaW dodDogNTAw OyBtYXJnaW 4tbGVmdDog NnB4Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgRmluZCBv dXQgbW9yZQ ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9hPgogICAg ICAgICAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgICAgICAg ICAgICAgLS 0+CiAgICAg ICAgICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg IAogICAgIC AgIAogICAg ICAgIDxzcG FuIGNsYXNz PSdibHVycm VkLXRleHQn PgogICAgIC AgICAgICBR V05qYjNKa2 FXIDVuSUhS dklIUm8gWl NCamIyMXdZ VyA1NTRvQ1 pjeUIzIFpX SnphWFJsTE MgQk1ZVzFo Y2lCQiBaSF psY25ScGMy IGx1WnlCRG J5QjMgWVhN Z1ptOTFibS BSbFpDQnBi aUF4IE9UQX lJR2x1SUYg Qmxibk5oWT I5cyBZU3dn Um14dmNtIG xrWVN3Z2JX RnIgYVc1bk lHbDBJRyA5 dVpTQnZaaU IwIGFHVWdi MnhrWlggTj BJRzkxZEdS diBiM0lnWV dSMlpYIEow YVhOcGJtY2 cgWTI5dGNH RnVhVyBWek lHbHVJSFJv IFpTQlZibW wwWlcgUWdV M1JoZEdWei BManhpY2o1 TVlXIDFoY2 lCQlpIWmwg Y25ScGMybH VaeSBCRGJ5 QnBjeUJqIG RYSnlaVzUw Ykgga2dkR2 hsSUd4aCBj bWRsYzNRZ2 IzIFYwWkc5 dmNpQmggWk habGNuUnBj MiBsdVp5Qm piMjF3IFlX NTVJR2x1SU ggUm9aU0JW Ym1sMCBaV1 FnVTNSaGRH IFZ6TENCM2 FYUm8gSUc5 MlpYSWdNei BRNExEQXdN Q0JrIGFYTn diR0Y1Y3kg QmhZM0p2Yz NNZyBkR2hs SUdOdmRXID UwY25rdVBH SnkgUGxSb1 pTQmpiMiAx d1lXNTU0b0 NaIGN5Qm1h WEp6ZEMgQm lhV3hzWW05 aCBjbVFnZD JGeklHIE55 WldGMFpXUW cgYVc0Z01U a3dNQyBCaW VTQnBkSE1n IFptOTFibV JsY2kgd2dR MmhoY214bC BjeUJYTGlC TVlXIDFoY2 lCVGNpNHMg SUdGdVpDQm 1aVyBGMGRY SmxaQ0JoIE lIQmhhVzUw YVcgNW5JRz ltSUdFZyBi V0Z1SUdSeW FXIDVyYVc1 bklHRWcgWj J4aGMzTWdi MiBZZ1EyOW pZUzFEIGIy eGhManhpY2 ogNU1ZVzFo Y2lCQiBaSF psY25ScGMy IGx1WnlCRG J5QnAgY3lC cmJtOTNiaS BCbWIzSWdh WFJ6IElHbH VibTkyWVgg UnBkbVVnZF hObCBJRzlt SUdScFoyIG wwWVd3Z1lt bHMgYkdKdl lYSmtjeSA0 Z1NXNGdNak F3IE55d2dk R2hsSUcgTn ZiWEJoYm5r ZyBiV0ZrWl NCb1pXIEZr YkdsdVpYTW cgWm05eUlI QjFjbSBOb1 lYTnBibWNn IGRHaGxJR1 pwY24gTjBJ R1JwWjJsMC BZV3dnWW1s c2JHIEp2WV hKa0lHbHUg SUU1bGR5Ql piMyBKcklF TnBkSG5pIG dKbHpJRlJw YlcgVnpJRk 54ZFdGeSBa U3dnZDJocF kyIGdnZDJG eklHRnMgYz I4Z2RHaGxJ RyB4aGNtZG xjM1FnIFpH bG5hWFJoYk MgQmlhV3hz WW05aCBjbV FnWVhRZ2RH IGhsSUhScG JXVXUgUEdK eVBsUm9aUy BCamIyMXdZ VzU1IElHaG hjeUJpWlcg VnVJR3hwYz NSbCBaQ0J2 YmlCMGFHIF VnVG1GelpH RnggSUhOMG IyTnJJRyBW NFkyaGhibW RsIElITnBi bU5sSUQgRT VPVFlnWVc1 ayBJR2x6SU dOMWNuIEps Ym5Sc2VTQm ggSUhCMVlt eHBZMiB4NU lIUnlZV1Js IFpDQmpiMj F3WVcgNTVJ SGRwZEdnZy BZU0J0WVhK clpYIFFnWT JGd2FYUmgg YkdsNllYUn BiMiA0Z2Iy WWdiM1psIG NpQWtOU0Jp YVcgeHNhVz l1TGp4aSBj ajVNWVcxaG NpIEJCWkha bGNuUnAgYz JsdVp5QkRi eSBCcGN5Qm hJR1poIGJX bHNlUzF5ZF cgNGdZblZ6 YVc1bCBjM0 1zSUhkcGRH IGdnZEdobE lHTjEgY25K bGJuUWdRMC BWUElHRnVa Q0JEIGFHRn BjbTFoYmkg QnZaaUIwYU dVZyBRbTlo Y21Rc0lGIE 5sWVc0Z1Vt VnAgYkd4NU xDQmlaVyBs dVp5QjBhR1 VnIFozSmhi bVJ6YjIgNG diMllnZEdo bCBJR052Yl hCaGJuIG5p Z0pseklHWn YgZFc1a1pY SXVQRyBKeV BsUm9aU0Jq IGIyMXdZVz U1SUcgbHpJ R052YlcxcC BkSFJsWkNC MGJ5IEJ6ZF hOMFlXbHUg WVdKcGJHbD BlUyBCaGJt UWdhR0Z6IE lHbHRjR3hs YlcgVnVkR1 ZrSUhaaCBj bWx2ZFhNZ1 ozIEpsWlc0 Z2FXNXAgZE dsaGRHbDJa WCBNZ2RHaH liM1ZuIGFH OTFkQ0JwZE ggTWdiM0Js Y21GMCBhVz l1Y3l3Z2FX IDVqYkhWa2 FXNW4gSUhW emFXNW5JRy BWdVpYSm5l UzFsIFptWn BZMmxsYm4g UWdiR2xuYU hScCBibWNn YVc0Z2FYIF J6SUdKcGJH eGkgYjJGeV pITWdZVyA1 a0lISmxaSF ZqIGFXNW5J SEJoY0cgVn lJSGRoYzNS bCBJSFJvY2 05MVoyIGdn WkdsbmFYUm ggYkNCamIy MXRkVyA1cF kyRjBhVzl1 IExqeGljaj VNWVcgMWhj aUJCWkhabC BjblJwYzJs dVp5IEJEYn lCcGN5QnUg YjNRZ2IyNX NlUyBCcmJt OTNiaUJtIG IzSWdhWFJ6 SUcgOTFkR1 J2YjNJZyBZ V1IyWlhKMG FYIE5wYm1j c0lHSjEgZE NCaGJITnZJ RyBadmNpQn BkSE1nIGMz VndjRzl5ZE MgQnZaaUIy WVhKcCBiM1 Z6SUdOb1lY IEpwZEdGaW JHVWcgYjNK bllXNXBlbS BGMGFXOXVj eTRnIFZHaG xJR052Ylgg QmhibmtnYU dGeiBJR0Vn Y0hKdlozIE poYlNCallX eHMgWldRZ1 RHRnRZWCBJ Z1EyRnlaWE 1zIElIZG9h V05vSUggQn liM1pwWkdW eiBJR1p5Wl dVZ1ltIGxz YkdKdllYSm sgSUhOd1lX TmxJRyBadm NpQnViMjV3 IGNtOW1hWF J6SUcgRnVa Q0JqYUdGeS BhWFJoWW14 bElHIE5oZF hObGN5NDgg WW5JK1NXNG dNaiBBeE9T d2dUR0Z0IF lYSWdRV1Iy WlggSjBhWE 5wYm1jZyBR MjhnZDJGek lHIDVoYldW a0lHOXUgWl NCdlppQkdi MyBKaVpYUG lnSmtnIFFt VnpkQ0JGYl ggQnNiM2xs Y25NZyBabT l5SUVScGRt IFZ5YzJsMG VTd2cgY21W amIyZHVhWC BwcGJtY2dh WFJ6IElHTn ZiVzFwZEcg MWxiblFnZE c4ZyBaR2wy WlhKemFYIF I1SUdGdVpD QnAgYm1Oc2 RYTnBiMiA0 Z2FXNGdkR2 hsIElIZHZj bXR3YkcgRm paUzQ4WW5J KyBWR2hsSU dOdmJYIEJo Ym5rZ2FHRn ogSUdFZ2Mz UnliMiA1bk lIQnlaWE5s IGJtTmxJR2 x1SUggUm9a U0J6Y0c5eS BkSE1nYVc1 a2RYIE4wY2 5rc0lIQnkg YjNacFpHbH VaeSBCaFpI WmxjblJwIG MybHVaeUJt YjMgSWdiV0 ZxYjNJZyBj M0J2Y25Sek lHIHhsWVdk MVpYTWcgWV c1a0lIUmxZ VyAxekxDQn BibU5zIGRX UnBibWNnZE cgaGxJRTVH VEN3ZyBUa0 pCTENCaGJt IFFnVFV4Q0 xDQmggY3lC M1pXeHNJRy BGeklHTnZi R3hsIFoybG hkR1VnYzMg QnZjblJ6SU hCeSBiMmR5 WVcxekxnID 09CiAgICAg ICAgPC9zcG FuPgogICAg ICAgIAogIC AgICAgIA==
See Company Q&A