In deep saucepan, stir sugar and nearly all of the sherry over medium heat until sugar dissolves, 1–2 minutes. Increase heat to high and cook without stirring until medium-dark caramel forms or mixture reaches 370 degrees F on a sugar thermometer, 12–15 minutes. Carefully add remaining sherry and return to boil. Remove caramel from heat and whisk thoroughly. Allow to cool completely.
Preheat oven to 350 degrees F. On baking sheet, toss almonds with olive oil and rosemary leaves, lightly season with salt, and toast until golden, 10–12 minutes.
Place Cabrales on cheese plate, drizzle with caramel, top with toasted almonds and serve.
When glazing your cheese with caramel, make sure to use a rack so the excess caramel doesn’t pool below the cheese. This allows for a clean, more professional presentation.