First Solar
Q2 2023 Earnings Call
Jul 27, 2023, 4:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello. Good afternoon, everyone, and welcome to First Solar's first quarter 2023 earnings call. This call is being webcast live on the investors section of First Solar's website at investor.firstsolar.com. [Operator instructions] As a reminder, today's call is being recorded.
I would now like to turn the call over to Richard Romero from First Solar investor relations. Richard, you may begin.
Richard Romero -- Investor Relations
Good afternoon and thank you for joining us. Today, the company issued a press release announcing the second quarter 2023 financial results. A copy of the press release and associated presentation are available on First Solar's website at investor.firstsolar.com. With me today are Mark Widmar, chief executive officer; and Alex Bradley, chief financial officer.
Mark will provide a business update. Alex will discuss our financial results and provide updated guidance. Following their remarks, we will open the call for questions. Please note this call will include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from management's current expectations.
We encourage you to review the safe harbor statements contained in today's press release and presentation for a more complete description. It is now my pleasure to introduce Mark Widmar, chief executive officer.
Mark Widmar -- Chief Executive Officer
Thank you, Richard. Good afternoon and thank you for joining us today. With half of 2023 behind us, we continue to see strength in commercial, operational, and financial foundations both in 2023 and in the coming years as we continue to grow. The second quarter of the year continued the steady progress established in the first as we ramped up production and delivery of our next-generation Series 7 modules, reinforced our global leadership in thin-film PV with a strategic acquisition and continued our strong bookings and ASP momentum.
Moreover, continuing our commitment to sustainable long-term growth, earlier today, we announced that we will invest up to $1.1 billion in building a new fully vertically integrated manufacturing facility in the United States, our fifth in the country. Driven by compelling market fundamentals, supportive trade and industrial policies, and robust customer demand, as reflected in our year-to-date bookings total contracted in both backlog and pipeline of mid- to late-stage opportunities, we are pleased to continue to expand and invest in domestic manufacturing in the United States. This new facility is anticipated to be completed and begin production in the first half of 2026 and, along with our Alabama facility currently under construction, will produce our Series 7 module, which is expected to be a fully domestic product as determined by the current guidance issued by the U.S. Department of Treasury.