Eagle Materials

-12.01%

More reviews (1)

Live  

Eagle Materials is a leading building materials company based in the United States. The company was founded in 1963 and has grown to become one of the largest producers of cement, gypsum wallboard, and recycled paperboard in the country.
Headquartered in Dallas, Texas, Eagle Materials operates in nearly 20 states and has a workforce of over 2,500 employees. The company’s products are used in a wide range of construction, industrial, and agricultural applications.
Eagle Materials is committed to providing high-quality, sustainable products while also being a responsible corporate citizen. The company has various initiatives in place to minimize its environmental impact, promote safety and diversity in the workplace, and give back to the communities in which it operates.

RWFnbGUgTW F0ZXJpYWxz IGlzIGEgY2 9tcGFueSB0 aGF0IG1ha2 VzIGJ1aWxk aW5nIG1hdG VyaWFscywg d2hpY2ggYX JlIGltcG9y dGFudCBmb3 IgY29uc3Ry dWN0aW5nIH RoaW5ncyBs aWtlIGhvdX Nlcywgc2No b29scywgYW 5kIHJvYWRz LiBUaGV5IH Byb2R1Y2Ug bWF0ZXJpYW xzIHN1Y2gg YXMgY2VtZW 50LCBjb25j cmV0ZSwgYW 5kIGd5cHN1 bSB3YWxsYm 9hcmQgKHRo ZSBzdHVmZi B1c2VkIHRv IG1ha2Ugd2 FsbHMgaW5z aWRlIGJ1aW xkaW5ncyku IDxicj5FYW dsZSBNYXRl cmlhbHMgbW FrZXMgbW9u ZXkgYnkgc2 VsbGluZyB0 aGVzZSBidW lsZGluZyBt YXRlcmlhbH MgdG8gY29u c3RydWN0aW 9uIGNvbXBh bmllcyBhbm QgYnVpbGRl cnMgd2hvIG 5lZWQgdGhl bSBmb3IgdG hlaXIgcHJv amVjdHMuIE ltYWdpbmUg aWYgeW91IG hhdmUgYSBs ZW1vbmFkZS BzdGFuZCBh bmQgeW91IG J1eSBsZW1v bnMgYW5kIH N1Z2FyIHRv IG1ha2UgbG Vtb25hZGUs IHRoZW4geW 91IHNlbGwg dGhlIGxlbW 9uYWRlIHRv IHlvdXIgZn JpZW5kcy4g U2ltaWxhcm x5LCBFYWds ZSBNYXRlcm lhbHMgYnV5 cyByYXcgbW F0ZXJpYWxz IGFuZCB0dX JucyB0aGVt IGludG8gcH JvZHVjdHMg dGhhdCBidW lsZGVycyBu ZWVkLCBhbm QgdGhlbiB0 aGV5IHNlbG wgdGhvc2Ug cHJvZHVjdH MuPGJyPkVh Z2xlIE1hdG VyaWFscyBp cyBzdWNjZX NzZnVsIGZv ciBhIGZldy ByZWFzb25z LiBGaXJzdC wgdGhlcmUg d2lsbCBhbH dheXMgYmUg YSBuZWVkIG ZvciBidWls ZGluZyBtYX RlcmlhbHMg YmVjYXVzZS BwZW9wbGUg bmVlZCBwbG FjZXMgdG8g bGl2ZSBhbm Qgd29yay4g QXMgY2l0aW VzIGdyb3cg YW5kIG1vcm UgcGVvcGxl IG1vdmUgdG 8gZGlmZmVy ZW50IGFyZW FzLCBjb25z dHJ1Y3Rpb2 4gd2lsbCBj b250aW51ZS 4gU2Vjb25k LCB0aGUgY2 9tcGFueSBo YXMgYmVlbi Bhcm91bmQg Zm9yIGEgd2 hpbGUsIGFu ZCB0aGV5IG tub3cgaG93 IHRvIG1ha2 UgdGhlaXIg cHJvZHVjdH MgcmVhbGx5 IHdlbGwgYW 5kIGVmZmlj aWVudGx5LC B3aGljaCBo ZWxwcyB0aG VtIGtlZXAg Y29zdHMgZG 93biBhbmQg cHJvZml0cy B1cC4gPGJy PkluIHRoZS BmdXR1cmUs IHRoZXkgYX JlIGxpa2Vs eSB0byBzdG F5IHN1Y2Nl c3NmdWwgYm VjYXVzZSBh cyB0aGUgd2 9ybGQga2Vl cHMgZ3Jvd2 luZywgdGhl cmUgd2lsbC BiZSBtb3Jl IGFuZCBtb3 JlIGNvbnN0 cnVjdGlvbi Bwcm9qZWN0 cy4gUGx1cy wgdGhleSBh cmUgd29ya2 luZyBvbiBi ZWluZyBtb3 JlIGVudmly b25tZW50YW xseSBmcmll bmRseSwgd2 hpY2ggaXMg aW1wb3J0YW 50IGJlY2F1 c2UgbWFueS BwZW9wbGUg Y2FyZSBhYm 91dCB0aGUg cGxhbmV0Li BCeSBiZWlu ZyBpbm5vdm F0aXZlIGFu ZCBrZWVwaW 5nIHVwIHdp dGggd2hhdC BidWlsZGVy cyBuZWVkLC BFYWdsZSBN YXRlcmlhbH MgaXMgc2V0 IHVwIHRvIG hhdmUgc3Vj Y2VzcyBmb3 IgYSBsb25n IHRpbWUuPG JyPg==

MS4gTG9uZy 1zdGFuZGlu ZyBoaXN0b3 J5OiBFYWds ZSBNYXRlcm lhbHMgd2Fz IGZvdW5kZW QgaW4gMTk2 MywgbWFraW 5nIGl0IGEg d2VsbC1lc3 RhYmxpc2hl ZCBjb21wYW 55IHdpdGgg b3ZlciA1MC B5ZWFycyBv ZiBleHBlcm llbmNlIGlu IHRoZSBpbm R1c3RyeS48 YnI+Mi4gRG l2ZXJzaWZp ZWQgcG9ydG ZvbGlvOiBU aGUgY29tcG FueSBpcyBp bnZvbHZlZC BpbiBkaXZl cnNlIGNvbn N0cnVjdGlv biBhbmQgYn VpbGRpbmcg bWF0ZXJpYW xzIGJ1c2lu ZXNzZXMsIG luY2x1ZGlu ZyBjZW1lbn QgbWFudWZh Y3R1cmluZy wgZ3lwc3Vt IHdhbGxib2 FyZCBwcm9k dWN0aW9uLC ByZWN5Y2xl ZCBwYXBlcm JvYXJkIHBy b2R1Y3Rpb2 4sIGFuZCBj b25jcmV0ZS wgYWdncmVn YXRlcywgYW 5kIG9pbCBh bmQgZ2FzIH Byb3BwYW50 cyBzYWxlcy 48YnI+My4g U3Ryb25nIG ZpbmFuY2lh bCBwZXJmb3 JtYW5jZTog RWFnbGUgTW F0ZXJpYWxz IGhhcyBzaG 93biBjb25z aXN0ZW50IG dyb3d0aCBp biByZXZlbn VlIGFuZCBl YXJuaW5ncy BvdmVyIHRo ZSB5ZWFycy wgbWFraW5n IGl0IGEgZm luYW5jaWFs bHkgc3Ryb2 5nIGFuZCBz dGFibGUgY2 9tcGFueS48 YnI+NC4gUX VhbGl0eSBw cm9kdWN0cz ogVGhlIGNv bXBhbnkgaG FzIGEgcmVw dXRhdGlvbi Bmb3IgcHJv ZHVjaW5nIG hpZ2gtcXVh bGl0eSBhbm QgaW5ub3Zh dGl2ZSBwcm 9kdWN0cyB0 aGF0IG1lZX QgdGhlIGNv bnN0YW50bH kgZXZvbHZp bmcgbmVlZH Mgb2YgdGhl IGNvbnN0cn VjdGlvbiBp bmR1c3RyeS 48YnI+NS4g UHJveGltaX R5IHRvIGtl eSBtYXJrZX RzOiBFYWds ZSBNYXRlcm lhbHMgc3Ry YXRlZ2ljYW xseSBsb2Nh dGVzIGl0cy BmYWNpbGl0 aWVzIG5lYX IgbWFqb3Ig dXJiYW4gYW 5kIGNvbnN0 cnVjdGlvbi BtYXJrZXRz LCBhbGxvd2 luZyBmb3Ig ZWZmaWNpZW 50IHRyYW5z cG9ydGF0aW 9uIGFuZCBk aXN0cmlidX Rpb24gb2Yg aXRzIHByb2 R1Y3RzLjxi cj42LiBDb2 1taXRtZW50 IHRvIHN1c3 RhaW5hYmls aXR5OiBUaG UgY29tcGFu eSBpcyBjb2 1taXR0ZWQg dG8gc3VzdG FpbmFibGUg cHJhY3RpY2 VzIGFuZCBo YXMgaW1wbG VtZW50ZWQg dmFyaW91cy Bpbml0aWF0 aXZlcyB0by ByZWR1Y2Ug aXRzIGVudm lyb25tZW50 YWwgaW1wYW N0LCBzdWNo IGFzIHVzaW 5nIGFsdGVy bmF0aXZlIG Z1ZWxzIGFu ZCBpbXBsZW 1lbnRpbmcg Y29uc2Vydm F0aW9uIG1l YXN1cmVzLj xicj43LiBT dHJvbmcgY3 VzdG9tZXIg cmVsYXRpb2 5zaGlwczog RWFnbGUgTW F0ZXJpYWxz IGhhcyBidW lsdCBsb25n LXN0YW5kaW 5nIHJlbGF0 aW9uc2hpcH Mgd2l0aCBp dHMgY3VzdG 9tZXJzIGJh c2VkIG9uIH RydXN0LCBy ZWxpYWJpbG l0eSwgYW5k IHF1YWxpdH kgcHJvZHVj dHMsIGxlYW RpbmcgdG8g Y3VzdG9tZX IgbG95YWx0 eSBhbmQgcm VwZWF0IGJ1 c2luZXNzLj xicj44LiBT dHJvbmcgbG VhZGVyc2hp cDogVGhlIG NvbXBhbnkg aGFzIGEgc3 Ryb25nIGxl YWRlcnNoaX AgdGVhbSB3 aXRoIGluZH VzdHJ5IGV4 cGVydGlzZS BhbmQgYSBw cm92ZW4gdH JhY2sgcmVj b3JkIG9mIH N1Y2Nlc3Mu PGJyPjkuIE NvbW11bml0 eSBpbnZvbH ZlbWVudDog RWFnbGUgTW F0ZXJpYWxz IGlzIGFjdG l2ZWx5IGlu dm9sdmVkIG luIHRoZSBj b21tdW5pdG llcyB3aGVy ZSBpdCBvcG VyYXRlcywg c3VwcG9ydG luZyB2YXJp b3VzIGxvY2 FsIHByb2pl Y3RzIGFuZC Bpbml0aWF0 aXZlcy48Yn I+MTAuIEVt cGxveWVlIG RldmVsb3Bt ZW50OiBUaG UgY29tcGFu eSB2YWx1ZX MgaXRzIGVt cGxveWVlcy BhbmQgaW52 ZXN0cyBpbi B0aGVpciBk ZXZlbG9wbW VudCBhbmQg Z3Jvd3RoLC BsZWFkaW5n IHRvIGEgaG lnaGx5IHNr aWxsZWQgYW 5kIG1vdGl2 YXRlZCB3b3 JrZm9yY2Uu

VGhlIEVhZ2 xlIE1hdGVy aWFscyBjb2 1wYW554oCZ cyBidXNpbm VzcyBtb2Rl bCByZXZvbH ZlcyBhcm91 bmQgcHJvdm lkaW5nIHJh dyBtYXRlcm lhbHMsIGJ1 aWxkaW5nIG 1hdGVyaWFs cywgYW5kIG NvbnN0cnVj dGlvbiBwcm 9kdWN0cyB0 byBjdXN0b2 1lcnMgaW4g dGhlIFVuaX RlZCBTdGF0 ZXMuIFRoaX MgaW5jbHVk ZXMgdGhlIH Byb2R1Y3Rp b24gYW5kIH NhbGUgb2Yg Y2VtZW50LC Bjb25jcmV0 ZSwgZ3lwc3 VtIHdhbGxi b2FyZCwgcm VjeWNsZWQg cGFwZXJib2 FyZCwgYW5k IG9pbCBhbm QgbmF0dXJh bCBnYXMuIF RoZSBjb21w YW55IGFsc2 8gZm9jdXNl cyBvbiBkZX ZlbG9waW5n IGFuZCBvd2 5pbmcgaW5k dXN0cmlhbC ByZWFsIGVz dGF0ZSBwcm 9wZXJ0aWVz LiBUaGVpci BidXNpbmVz cyBtb2RlbC BpbnZvbHZl cyBkaXZlcn NpZmljYXRp b24gaW4gdm FyaW91cyBz ZWN0b3JzIG FuZCBhIHN0 cm9uZyBmb2 N1cyBvbiBj b3N0IGVmZm ljaWVuY3kg YW5kIG9wZX JhdGlvbmFs IGV4Y2VsbG VuY2UuIEFk ZGl0aW9uYW xseSwgRWFn bGUgTWF0ZX JpYWxzIHBy aW9yaXRpem VzIHN1c3Rh aW5hYmxlIH ByYWN0aWNl cyBhbmQgc3 RyaXZlcyB0 byBiZSBhIG xlYWRlciBp biBlbnZpcm 9ubWVudGFs IHN0ZXdhcm RzaGlwIGlu IGFsbCBhc3 BlY3RzIG9m IHRoZWlyIG 9wZXJhdGlv bnMu

AI could potentially pose threats to Eagle Materials in several ways, though the impact may vary based on the specific contexts of their products and services.
1. Substitution: AI technologies may lead to the development of alternative materials or construction methods that could replace traditional products offered by Eagle Materials, such as cement or gypsum. Innovations in materials science, driven by AI, could yield superior or more cost-effective options that meet industry standards and customer needs, thereby affecting demand for Eagle’s products.
2. Disintermediation: If AI enables customers, such as construction companies, to manage supply chains more efficiently or directly analyze material performance and pricing, there might be reduced reliance on traditional suppliers like Eagle Materials. This could result in a shift in how customers procure materials, potentially bypassing established suppliers.
3. Margin Pressure: Advances in AI could enhance operational efficiencies not only for Eagle Materials but also for its competitors. If rivals effectively leverage AI to lower production costs or improve supply chain management, this could lead to increased competition and price pressure across the industry. Eagle Materials may need to invest in AI technologies to maintain their competitive edge, which could strain margins if the investments do not yield proportional returns.
Overall, while AI does present potential threats, the degree of impact will largely depend on how effectively Eagle Materials adapts to technological advancements and the evolving market landscape. Embracing AI as a tool to enhance their operations may mitigate some of these risks while offering opportunities for innovation and growth.

Eagle Materials, like many companies in the building materials sector, can be sensitive to changes in interest rates in several ways.
1. Earnings Sensitivity: Higher interest rates can increase borrowing costs for both the company and its customers. For Eagle Materials, which relies on construction and infrastructure projects, increased borrowing costs may lead to reduced demand for its products. As customers may delay projects or cut back on spending, this can negatively impact the company’s revenue and earnings.
2. Cash Flow Sensitivity: The company’s cash flow can be affected by interest rate changes through the costs associated with financing its operations. If Eagle Materials has variable-rate debt, rising interest rates would lead to increased interest expenses, reducing cash flow available for operations, investments, and shareholder returns. Additionally, if customers experience higher financing costs, this may lead to decreased orders, further impacting cash flows.
3. Valuation Sensitivity: Interest rates play a crucial role in valuation models, particularly in discounted cash flow analysis. Higher interest rates increase the discount rate used to value future cash flows, which can lead to a lower present value of those cash flows. This can result in a decreased valuation for Eagle Materials if investors perceive that rising interest rates significantly affect the company’s growth prospects and risk profile.
Overall, changes in interest rates can have a pronounced effect on Eagle Materials’ earnings, cash flow, and valuation due to their implications on customer behavior, financing costs, and the overall economic environment in which the company operates.

T25lIHJlYW xpc3RpYyBz Y2VuYXJpby B0aGF0IGNv dWxkIHBlcm 1hbmVudGx5 IGltcGFpci BFYWdsZSBN YXRlcmlhbH PigJkgZWNv bm9taWNzIG 92ZXIgdGhl IG5leHQgMy B0byA1IHll YXJzIGlzIG Egc2lnbmlm aWNhbnQgZG 93bnR1cm4g aW4gdGhlIG NvbnN0cnVj dGlvbiBpbm R1c3RyeSBk cml2ZW4gYn kgYSBjb21i aW5hdGlvbi BvZiBmYWN0 b3JzIHN1Y2 ggYXMgaW5j cmVhc2VkIG ludGVyZXN0 IHJhdGVzLC BhIHByb2xv bmdlZCByZW Nlc3Npb24s IGFuZCBzdH JpY3RlciBl bnZpcm9ubW VudGFsIHJl Z3VsYXRpb2 5zIGltcGFj dGluZyBwcm 9kdWN0aW9u IGNvc3RzLj xicj5JZiBp bnRlcmVzdC ByYXRlcyBy aXNlLCBib3 Jyb3dpbmcg Y29zdHMgZm 9yIGNvbnN0 cnVjdGlvbi Bwcm9qZWN0 cyB3aWxsIG luY3JlYXNl LCBsZWFkaW 5nIHRvIGEg c2xvd2Rvd2 4gaW4gbmV3 IGhvdXNpbm cgc3RhcnRz IGFuZCBpbm ZyYXN0cnVj dHVyZSBpbn Zlc3RtZW50 cy4gQSBwcm 9sb25nZWQg cmVjZXNzaW 9uIGNvdWxk IGV4YWNlcm JhdGUgdGhp cyBzaXR1YX Rpb24sIHJl c3VsdGluZy BpbiByZWR1 Y2VkIGRlbW FuZCBmb3Ig Y2VtZW50LC Bjb25jcmV0 ZSwgYW5kIG d5cHN1bSBw cm9kdWN0c+ KAlGtleSBz ZWdtZW50cy BvZiBFYWds ZSBNYXRlcm lhbHPigJkg b3BlcmF0aW 9ucy4gU3Ry aWN0ZXIgZW 52aXJvbm1l bnRhbCByZW d1bGF0aW9u cyBjb3VsZC BhbHNvIGlu Y3JlYXNlIG NvbXBsaWFu Y2UgY29zdH MgYW5kIGxp bWl0IHJlc2 91cmNlIGV4 dHJhY3Rpb2 4sIGZ1cnRo ZXIgcHJlc3 N1cmluZyBw cm9maXQgbW FyZ2lucy48 YnI+SW4gc3 VjaCBhIHNj ZW5hcmlvLC BFYWdsZSBN YXRlcmlhbH MgY291bGQg c2VlIGEgc3 Vic3RhbnRp YWwgZGVjbG luZSBpbiBy ZXZlbnVlcy BhcyBjb25z dHJ1Y3Rpb2 4gYWN0aXZp dHkgc2xvd3 MuIE1hcmdp bnMgd291bG QgbGlrZWx5 IGJlIGltcG FjdGVkIGFz IGZpeGVkIG Nvc3RzIHJl bWFpbiBoaW doIHdoaWxl IHNhbGVzIG RlY3JlYXNl LiBUaGUgY2 9tcGFueSBt YXkgbmVlZC B0byByZWR1 Y2UgcHJpY2 VzIHRvIHJl bWFpbiBjb2 1wZXRpdGl2 ZSwgd2hpY2 ggd291bGQg ZXJvZGUgZ3 Jvc3MgbWFy Z2lucy4gT3 BlcmF0aW5n IGluY29tZS Bjb3VsZCB0 dXJuIG5lZ2 F0aXZlIG9y IGJlIHNldm VyZWx5IHJl ZHVjZWQsIG ltcGFjdGlu ZyBjYXNoIG Zsb3cgZ2Vu ZXJhdGlvbi 48YnI+T24g dGhlIGJhbG FuY2Ugc2hl ZXQsIHRoZS BpbXBsaWNh dGlvbnMgY2 91bGQgYmUg c2lnbmlmaW NhbnQuIEEg c3VzdGFpbm VkIGRlY2xp bmUgaW4gcm V2ZW51ZSBj b3VsZCBsZW FkIHRvIGNh c2ggZmxvdy Bpc3N1ZXMs IG1ha2luZy BpdCBkaWZm aWN1bHQgZm 9yIHRoZSBj b21wYW55IH RvIHNlcnZp Y2UgaXRzIG RlYnQgb2Js aWdhdGlvbn MuIFRoaXMg c2NlbmFyaW 8gY291bGQg cmVzdWx0IG luIGluY3Jl YXNlZCBsZX ZlcmFnZSBy YXRpb3MgYX MgZGVidCBs ZXZlbHMgcm VtYWluIGhp Z2ggd2hpbG UgZWFybmlu Z3MgYmVmb3 JlIGludGVy ZXN0LCB0YX hlcywgZGVw cmVjaWF0aW 9uLCBhbmQg YW1vcnRpem F0aW9uIChF QklUREEpIG RlY3JlYXNl LiBDYXNoIH Jlc2VydmVz IG1heSBkd2 luZGxlLCBs ZWFkaW5nIH RvIHBvdGVu dGlhbCBsaX F1aWRpdHkg Y29uY2Vybn MuPGJyPkFk ZGl0aW9uYW xseSwgYWdn cmVzc2l2ZS Bjb3N0LWN1 dHRpbmcgbW Vhc3VyZXMg bWlnaHQgYm UgaW5zdGl0 dXRlZCwgaW 5jbHVkaW5n IGxheW9mZn Mgb3IgcGxh bnQgY2xvc3 VyZXMsIHdo aWNoIGNvdW xkIGxlYWQg dG8gcmVwdX RhdGlvbmFs IGRhbWFnZS BvciBsb3Nz IG9mIHNraW xsZWQgbGFi b3IuIFRoaX MgY291bGQg ZnVydGhlci BpbXBhaXIg dGhlIGNvbX BhbnnigJlz IHJlY292ZX J5IHdoZW4g bWFya2V0IG NvbmRpdGlv bnMgYmVnaW 4gdG8gaW1w cm92ZS48Yn I+SW4gc3Vt bWFyeSwgdG hpcyBzY2Vu YXJpbyB3b3 VsZCBsZWFk IHRvIHJlZH VjZWQgbWFy Z2lucywgY2 9uc3RyYWlu ZWQgY2FzaC BmbG93LCBh bmQgYSB3ZW FrZW5lZCBi YWxhbmNlIH NoZWV0LCB3 aXRoIHBvdG VudGlhbGx5 IGxvbmctbG FzdGluZyBl ZmZlY3RzIG 9uIHRoZSBj b21wYW554o CZcyBmaW5h bmNpYWwgaG VhbHRoIGFu ZCBvcGVyYX Rpb25hbCB2 aWFiaWxpdH kuPGJyPg==

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 bG9nb3MvT2 lWcFZuSmtx WkVZVTNRcH hGVlAud2Vi cCIgYWx0PS JFYWdsZSBN YXRlcmlhbH MiIHRpdGxl PSJFYWdsZS BNYXRlcmlh bHMiICBjbG Fzcz0iaW1n LWZsdWlkIi BoZWlnaHQ9 NTAgd2lkdG g9NTAgbG9h ZGluZz0nbG F6eScgc3R5 bGU9J2Jvcm Rlci1yYWRp dXM6IDZweD snPgoKICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdm bGV4OiAxOy B0ZXh0LWFs aWduOiBjZW 50ZXI7IG1h cmdpbi1sZW Z0OiA1cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPHAg c3R5bGU9J2 ZvbnQtc2l6 ZTogMjZweD sgY29sb3I6 ICMzMzM7IG 1hcmdpbi1i b3R0b206ID E1cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIPCf k4ggV2FudC B0byByZWFk IG1vcmUgYW JvdXQgRWFn bGUgTWF0ZX JpYWxzPwog 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 +OgSBGcmVl IGRvd25sb2 FkISA8aT4i VGhlIENoZW NrbGlzdCBW YWx1ZSBJbn Zlc3RvciDi gJQgQSBTbW FydGVyIFdh eSB0byBQaW NrIFN0b2Nr cyI8L2k+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDwvcD4KCi AgICAgICAg ICAgICAgIC AgICAgICAg IDwhLS0KIC AgICAgICAg ICAgICAgIC AgICAgICAg PGRpdiBzdH lsZT0nbWFy Z2luLXRvcD ogMTJweDsg Zm9udC1zaX plOiAxM3B4 OyBjb2xvcj ogIzQ0NDsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg U2lnbiB1cC Bub3cgYW5k IGdldCBvdX IgZnJlZSBl Qm9vayAKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIDxiPl RoZSBDaGVj a2xpc3QgVm FsdWUgSW52 ZXN0b3Ig4o CUIEEgU21h cnRlciBXYX kgdG8gUGlj ayBTdG9ja3 M8L2I+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICAgICAg ICAgICAgIC AtLT4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC EtLQogICAg ICAgICAgIC AgICAgICAg ICAgICA8ZG l2IHN0eWxl PSdtYXJnaW 4tdG9wOiAx NnB4OyBmb2 50LXNpemU6 IDE0cHg7IG NvbG9yOiAj NDQ0OyBmb2 50LWZhbWls eTogLWFwcG xlLXN5c3Rl bSwgQmxpbm tNYWNTeXN0 ZW1Gb250LC BTZWdvZSBV SSwgUm9ib3 RvLCBIZWx2 ZXRpY2EgTm V1ZSwgc2Fu cy1zZXJpZj sgbGluZS1o ZWlnaHQ6ID EuNjsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgSGF2 ZSB5b3UgaG VhcmQgYWJv dXQgb3VyIH Nob3J0IDxz dHJvbmcgc3 R5bGU9J2Zv bnQtd2VpZ2 h0OiA2MDA7 Jz5EYWlseS BWaWRlbyBO ZXdzbGV0dG VyPC9zdHJv bmc+PwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgPGEgaH JlZj0naHR0 cHM6Ly93d3 cuaW5zaWdo dGZ1bHZhbH VlLmNvbS9u ZXdzbGV0dG VyLnBocCcg dGFyZ2V0PS dfYmxhbmsn IHN0eWxlPS djb2xvcjog IzAwN0JGRj sgdGV4dC1k ZWNvcmF0aW 9uOiBub25l OyBmb250LX dlaWdodDog NTAwOyBtYX JnaW4tbGVm dDogNnB4Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgRmlu ZCBvdXQgbW 9yZQogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9hPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgLS0+CiAg ICAgICAgIC AgICAgICAg ICAgPC9kaX Y+CiAgICAg ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgIAogIC AgICAgIAog ICAgICAgID xzcGFuIGNs YXNzPSdibH VycmVkLXRl eHQnPgogIC AgICAgICAg ICBNUzRnUl dGbmJHIFVn VFdGMFpYSn AgWVd4eklI ZGhjeSBCbW IzVnVaR1Zr IElHbHVJRE U1TmogTWdZ bmtnUldSMy BZWEprSUVN dUlFIFZoWj J4bExDQlQg Y2k0Z1NYUW dkMiBGeklH OXlhV2RwIG JtRnNiSGtn WTIgRnNiR1 ZrSUhSbyBa U0JGWVdkc1 pTIEJOWVhS bGNtbGggYk NBbUlGTjFj SCBCc2VTQk RiMjF3IFlX NTVJR0Z1Wk MgQm1iMk4x YzJWayBJRz l1SUhObGJH IHhwYm1jZ2 MyRnUgWkN3 Z1ozSmhkbS BWc0xDQmhi bVFnIFkyOX VZM0psZEcg VXVQR0p5UG pJdSBJRlJv WlNCamIyID F3WVc1NUlI ZGwgYm5RZ2 NIVmliRyBs aklHbHVJRE U1IE56SWdZ VzVrSUcgTm 9ZVzVuWldR ZyBhWFJ6SU c1aGJXIFVn ZEc4Z1JXRm 4gYkdVZ1RX RjBaWCBKcF lXeHpMQ0JK IGJtTXVQR0 p5UGogTXVJ RlJ2WkdGNS BMQ0JGWVdk c1pTIEJOWV hSbGNtbGgg YkhNZ2FYTW dZUyBCc1pX RmthVzVuIE lHTnZiWEJo Ym4ga2dhVz RnZEdobCBJ R0oxYVd4a2 FXIDVuSUcx aGRHVnkgYV dGc2N5QnBi bSBSMWMzUn llU3dnIGQy bDBhQ0JoSU cgMWhjbXRs ZENCaiBZWE FnYjJZZ2Iz IFpsY2lBa0 5DQmkgYVd4 c2FXOXVMai B4aWNqNDBM aUJVIGFHVW dZMjl0Y0cg RnVlU0J3Y2 05ayBkV05s Y3lCalpXID FsYm5Rc0lH TnYgYm1OeV pYUmxMQyBC aFoyZHlaV2 RoIGRHVnpM Q0JuZVggQn pkVzBnZDJG cyBiR0p2WV hKa0xDIEJo Ym1RZ2NtVm ogZVdOc1pX UWdjRyBGd1 pYSmliMkZ5 IFpDQnBiaU F5T0MgQm1Z V05wYkdsMC BhV1Z6SUd4 dlkyIEYwWl dRZ1lXTnkg YjNOeklIUm 9aUyBCVmJt bDBaV1FnIF UzUmhkR1Z6 TGogeGljaj QxTGlCRiBZ V2RzWlNCTl lYIFJsY21s aGJITWcgYV hNZ2RHaGxJ RyB4aGNtZG xjM1FnIGMz VndjR3hwWl ggSWdiMlln WTJWdCBaVz UwSUdGdVpD IEJqYjI1am NtVjAgWlNC cGJpQjBhRy BVZ2MzUmhk R1VnIGIyWW dWR1Y0WVgg TXVQR0p5UG pZdSBJRVZo WjJ4bElFID FoZEdWeWFX RnMgYytLQW 1TQm5lWCBC emRXMGdkMk ZzIGJHSnZZ WEprSUcgbH pJSFZ6WldR ZyBhVzRnZE dobElHIE52 Ym5OMGNuVm ogZEdsdmJp QnZaaSBCb2 IyMWxjeXdn IFluVnphVz VsYzMgTmxj eXdnWVc1ay BJRzkwYUdW eUlHIEoxYV d4a2FXNW4g Y3lCaFkzSn ZjMyBNZ2RH aGxJR052IG RXNTBjbmt1 UEcgSnlQam N1SUU5dSBa U0J2WmlCMG FHIFVnWTI5 dGNHRnUgZW VLQW1YTWdi VyBGcWIzSW dZV05vIGFX VjJaVzFsYm 4gUnpJSGRo Y3lCMCBhR1 VnWTI5dWMz IFJ5ZFdOMG FXOXUgSUc5 bUlHRWdjRy BGd1pYSWdj bVZqIGVXTn NhVzVuSUgg QnNZVzUwSU dsdSBJREU1 T0RBc0lIIG RvYVdOb0lI QnkgYjJSMV kyVnpJSCBW d0lIUnZJRE 13IE1Dd3dN REFnZEcgOX VjeUJ2WmlC eSBaV041WT J4bFpDIEJ3 WVhCbGNtSn YgWVhKa0lH VmhZMiBnZ2 VXVmhjaTQ4 IFluSStPQz RnU1cgNGdN akF3TUN3Zy BSV0ZuYkdV Z1RXIEYwWl hKcFlXeHog SUdGamNYVn BjbSBWa0lI Um9aU0JKIG JHeHBibTlw Y3kgQkRaVz FsYm5RZyBR Mjl0Y0dGdW VTIEJoYm1R Z1pYaHcgWV c1a1pXUWdh WCBSeklHOX daWEpoIGRH bHZibk1nYV cgNTBieUIw YUdVZyBUV2 xrZDJWemRD IEJ5WldkcG IyNHUgUEdK eVBqa3VJRi BSb1pTQmpi MjF3IFlXNT VJR2hoY3kg QmhJSE4wY2 05dSBaeUJq YjIxdGFYIF J0Wlc1MElI UnYgSUhOMW MzUmhhVyA1 aFltbHNhWF I1IElHRnVa Q0JvWVggTW djbVZqWlds MiBaV1FnYm 5WdFpYIEp2 ZFhNZ1lYZG ggY21SeklH WnZjaSBCcG RITWdaVzUy IGFYSnZibT FsYm4gUmhi Q0JsWm1adi BjblJ6TGp4 aWNqIDR4TU M0Z1NXNGcg WVdSa2FYUn BiMiA0Z2RH OGdhWFJ6IE lHSjFhV3hr YVcgNW5JRz FoZEdWeSBh V0ZzY3lCaW RYIE5wYm1W emN5d2cgUl dGbmJHVWdU VyBGMFpYSn BZV3h6IElH RnNjMjhnYj MgQmxjbUYw WlhNZyBZVz RnYjJsc0lH IEZ1WkNCbl lYTWcgY0hK dmNIQmhibi BSeklHUnBk bWx6IGFXOX VMQ0IzYUcg bGphQ0J3Y2 05MiBhV1Js Y3lCb2FXIG RvTFhGMVlX eHAgZEhrZ2 MyRnVaQyBC MWMyVmtJR2 x1IElIUm9a U0JvZVcgUn lZWFZzYVdN ZyBabkpoWT NSMWNtIGx1 WnlCd2NtOW ogWlhOekxq eGljaiA0eE 1TNGdSV0Zu IGJHVWdUV0 YwWlggSnBZ V3h6SUdoaC BjeUJpWldW dUlHIDVoYl dWa0lHOXUg WlNCdlppQk diMyBKMGRX NWw0b0NaIG N5Qk5iM04w SUUgRmtiV2 x5WldRZyBR Mjl0Y0dGdW FXIFZ6SUds dUlIUm8gWl NCQ2RXbHNa RyBsdVp5Qk 5ZWFJsIGNt bGhiSE1nYV cgNWtkWE4w Y25rZyBabT l5SUdacGRt IFVnWTI5dW MyVmogZFhS cGRtVWdlVy BWaGNuTXVQ R0p5IFBqRX lMaUJVYUcg VWdZMjl0Y0 dGdSBlZUtB bVhNZ2MzIF J2WTJzZ2FH RnogSUdOdm JuTnBjMyBS bGJuUnNlU0 J2IGRYUnda WEptYjMgSn RaV1FnZEdo bCBJRk1tVU NBMU1EIEFn YVc1a1pYZ2 cgWm05eUlI Um9aUyBCd1 lYTjBJREl3 IElIbGxZWE p6TGogeGlj ajR4TXk0Zy BSV0ZuYkdV Z1RXIEYwWl hKcFlXeHog SUdoaGN5Qm hJSCBOMGNt OXVaeUJ3IG FHbHNZVzUw YUggSnZjR2 xqSUhCeSBi MmR5WVcwZ1 lXIDVrSUdo aGN5QmsgYj I1aGRHVmtJ SCBSdklIWm hjbWx2IGRY TWdiM0puWV cgNXBlbUYw YVc5dSBjeU IwYUdGMElH IFp2WTNWek lHOXUgSUdW a2RXTmhkRy BsdmJpd2dh R1ZoIGJIUm 9MQ0JoYm0g UWdZMjl0Yl hWdSBhWFI1 SUdSbGRtIF ZzYjNCdFpX NTAgTGp4aW NqNHhOQyA0 Z1ZHaGxJR0 52IGJYQmhi bmtnYVggTW dZV3h6YnlC ciBibTkzYm lCbWIzIEln Y0hKdmRtbG sgYVc1bklH bDBjeSBCbG JYQnNiM2xs IFpYTWdkMm wwYUMgQmxl R05sYkd4bC BiblFnWW1W dVpXIFpwZE hNc0lITjEg WTJnZ1lYTW dZUyBBME1E RW9heWtnIG NHeGhiaXdn YUcgVmhiSF JvWTJGeSBa U0JqYjNabG NtIEZuWlN3 Z1lXNWsgSU hSMWFYUnBi MiA0Z2NtVn BiV0oxIGNu TmxiV1Z1ZE MgNDhZbkkr TVRVdSBJRV JsYzNCcGRH IFVnYVhSek lHZHkgYjNk MGFDQmhibS BRZ2MzVmpZ MlZ6IGN5d2 dSV0ZuYkcg VWdUV0YwWl hKcCBZV3h6 SUhKbGJXIE ZwYm5NZ2RI SjEgWlNCMG J5QnBkSCBN Z1ptRnRhV3 g1IExXOTNi bVZrSUggSn ZiM1J6TENC MyBhWFJvSU hSb2NtIFZs SUdkbGJtVn kgWVhScGIy NXpJRyA5bU lIUm9aU0JG IFlXZHNaU0 JtWVcgMXBi SGtnYVc1Mi BiMngyWldR Z2FXIDRnZE dobElHTnYg YlhCaGJubm lnSiBseklH OXdaWEpoIG RHbHZibk11 SUQgeGljaj Q9CiAgICAg ICAgPC9zcG FuPgogICAg ICAgIAogIC AgICAgIA==