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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Keith Noonan and Jennifer Saibil, The Motley FoolSun, Sep 21, 2025, 7:51 PM 5 min readLower interest rates will help this cruise leader pay off its high debt.Turnaround plays can be risky, but backing the right ones can be hugely rewarding.10 stocks we like better than Carnival Corp. ›As in most years, investors have had a lot of potential risk factors to navigate in 2025. That hasn't stopped major indexes from posting huge gains across the stretch. Along those lines, the S&P 500 index has jumped roughly 12% across this year's trading. Meanwhile, the Nasdaq Composite is up approximately 15% across the stretch.Despite top indexes surging to new record highs and many high-profile companies notching new valuation records across this year's trading, there are still some intriguing companies with share prices down more than 50% from their peaks.Image source: Getty Images.Jennifer Saibil (Carnival): Carnival (NYSE: CCL) is the largest cruise company in the world, and it continues to report record growth and demand. But its high debt, racked up when it was forced to close down early in the pandemic, continues to worry investors.They have been coming back slowly. Carnival stock is 57% off its all-time highs, but it's up nearly 100% over the past year. Investors are impressed with its business rebound and how well it's paying off its debt. But there's a lot further to go to get to its previous high, which creates opportunity for long-term investors.The company has been investing in its fleet and its destinations to attract new and repeat business. It recently launched an exclusive destination called Celebration Key, and it's expanding and enhancing other exclusive locations. It has a new ship called Carnival Festivale set to debut in 2027, featuring Sunsation Point, an outdoor family zone filled with activities, including a water park. It's also improving its loyalty program to boost engagement.The results demonstrate momentum. In the 2025 fiscal second quarter (ended May 31), Carnival beat guidance for net yields, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), and adjusted net income, and it reported record revenue and operating income. Deposits reached an all-time high of $8.5 billion, and 93% of 2025 occupancy is booked at high ticket prices.Management had developed a strategy called SEA change with target goals in sustainability, non-GAAP (adjusted) EBITDA, and return on invested capital that it achieved a year and a half early, and it raised guidance across metrics for the full year.Now for the debt piece. Carnival ended the quarter with more than $27 billion in debt, well above its prepandemic levels. But it's made strides in paying it down, including refinancing $7 billion so far this year and prepaying $350 million out of $1.4 billion due next year. Carnival stock has been rising as interest rates go down, and if they get cut next week, it will be even easier for it to finish paying off the debt.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,749.75 -2.75 (-0.04%)Dow Futures46,720.00 -4.00 (-0.01%)Nasdaq Futures24,997.00 -6.00 (-0.02%)Russell 2000 Futures2,480.00 -1.90 (-0.08%)VIX16.10 +0.65 (+4.21%)Gold3,781.30 +6.20 (+0.16%)PortfolioSign in to access your portfolioSign inTop gainersMTSR Metsera, Inc. 53.58 +20.26 (+60.80%)DGNX Diginex Limited 17.75 +4.15 (+30.51%)QMMM QMMM Holdings Limited 105.90 +23.06 (+27.84%)GGAL Grupo Financiero Galicia S.A. 32.03 +5.58 (+21.10%)BBAR Banco BBVA Argentina S.A. 9.85 +1.66 (+20.27%)Top losersCOMP Compass, Inc. 7.92 -1.48 (-15.74%)QUBT Quantum Computing Inc. 20.21 -3.06 (-13.15%)OPEN Opendoor Technologies Inc. 8.38 -1.19 (-12.43%)PTRN Pattern Group Inc. 14.00 -1.63 (-10.43%)BMNR Bitmine Immersion Technologies, Inc. 55.10 -6.19 (-10.10%)Most activeNVDA NVIDIA Corporation 183.61 +7.01 (+3.97%)OPEN Opendoor Technologies Inc. 8.38 -1.19 (-12.43%)SNAP Snap Inc. 8.53 +0.37 (+4.53%)PLUG Plug Power Inc. 2.6500 +0.4700 (+21.56%)BBAI BigBear.ai Holdings, Inc. 7.08 +0.23 (+3.36%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBETR Better Home & Finance Holding Company 49.98 +15.89 (+46.61%)RIVN Rivian Automotive, Inc. 15.24 +0.86 (+5.98%)APLD Applied Digital Corporation 24.45 +3.97 (+19.38%)KVUE Kenvue Inc. 16.97 -1.37 (-7.47%)AMAT Applied Materials, Inc. 200.52 +10.42 (+5.48%)Top economic events