Shares of cruise business chief Carnival Corp. (NYSE: CCL) had been rallying right now, up 8.2% as of 1:48 p.m. ET.The cruise line chief reported second-quarter earnings this morning, beating analyst expectations handily and quelling fears that increased rates of interest is likely to be crimping demand for cruising.It seems there’s seemingly no stopping the momentum of the cruise business as customers search reasonably priced “revenge journey” voyages left and proper.Inflecting to constructive profitsFor its fiscal second quarter, Carnival reported $5.78 billion in income, up 17.7%, with non-GAAP (adjusted) internet revenue inflecting from damaging $0.31 a 12 months in the past to constructive $0.11. Each figures handily beat analyst expectations. Adjusted free money circulate got here in at a strong $1.3 billion.Not solely that, however administration additionally forecast document bookings numbers regardless of increased pricing, together with moderating prices. For the complete 12 months, administration raised its adjusted internet revenue steering by $275 million relative to the prior quarter.Principally, nearly all the things that might go proper went proper for Carnival. Clients continued to e book cruises regardless of increased costs, whereas Carnival was in a position to maintain adjusted cruise prices per obtainable decrease berth day (ALBD) outdoors of gas prices flat in contrast with the prior 12 months, due to additional recognized price financial savings.In the meantime, the cumulative booked place for the remainder of 2024 is the best on document, each by way of pricing in addition to occupancy, and the cumulative booked place for 2025 is even increased. Whole buyer deposits totaled a document $8.3 billion, about $1.1 billion increased than the earlier document final 12 months.Importantly, the corporate additionally continued to chip away at its debt load it accrued throughout the pandemic. Within the second quarter, Carnival paid down $1.6 billion in debt, whereas repricing one other $2.7 billion. The corporate additionally issued $535 million in notes maturing in 2030 to repay its 2026 unsecured notes, extending its debt maturities. All informed, the transactions ought to decrease the corporate’s curiosity expense by $85 million on an annualized foundation. Nonetheless, total debt stays substantial, at $29.3 billion as of Might 31.Reaching its “SEA Change” early?New CEO Josh Weinstein unveiled Carnival’s three-year strategic plan, known as “SEA Change,” final 12 months, wherein the corporate seeks to lower carbon emissions by 20%, enhance adjusted earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) per obtainable decrease berth day by 50% over 2023, and obtain a 12% return on invested capital by the top of 2026.Story continuesOn the earnings launch, Weinstein famous the corporate will already be two-thirds of the best way there by the top of 2024.That is definitely encouraging, and in addition could have analysts considering the corporate might exceed its 2025 and 2026 targets as properly. No marvel the inventory is rallying right now.Do you have to make investments $1,000 in Carnival Corp. proper now?Before you purchase inventory in Carnival Corp., think about this:The Motley Idiot Inventory Advisor analyst workforce simply recognized what they imagine are the 10 finest shares for traders to purchase now… and Carnival Corp. wasn’t certainly one of them. The ten shares that made the reduce might produce monster returns within the coming years.Take into account when Nvidia made this checklist on April 15, 2005… when you invested $1,000 on the time of our advice, you’d have $723,729!*Inventory Advisor gives traders with an easy-to-follow blueprint for fulfillment, together with steering on constructing a portfolio, common updates from analysts, and two new inventory picks every month. The Inventory Advisor service has greater than quadrupled the return of S&P 500 since 2002*.See the ten shares »*Inventory Advisor returns as of June 24, 2024Billy Duberstein and/or his shoppers haven’t any positions in any of the shares talked about. The Motley Idiot recommends Carnival Corp. The Motley Idiot has a disclosure coverage.Why Carnival Corp. Rallied Immediately was initially revealed by The Motley Idiot