Winners & Losers: Cleo Research Unveils Key Lessons from Five Years of Supply Chain Disruption

New analysis of corporate earnings reports shows how supply chain strategies impact stock performance—and why some companies are falling behind

Cleo, the pioneer and global leader of the Ecosystem Integration software category and provider of the Cleo Integration Cloud (CIC) platform for supply chain orchestration, today released the findings from the first-ever Supply Chain Earnings Impact Report, offering stock performance analysis of how supply chain disruptions impacted publicly traded companies. The research revealed a direct correlation to enterprise value between those who proactively invested in supply chain strategies and those who did not.

The report—based on analysis of more than 1,000 earnings reports from publicly traded mid-market companies over a five-year period—highlights how companies that prioritized technology integration, real-time visibility, and operational resilience drove higher investor confidence and saw their stock prices more quickly return to pre-disruption levels. In contrast, organizations that failed to modernize their supply chains faced prolonged disruptions, increased costs, and investor skepticism—leading to laggard stock performance.

“Uncertainty is the new normal in supply chains. The past five years have shown us that disruption isn’t an exception—it’s an expectation,” said Mahesh Rajasekharan, CEO at Cleo. “From pandemic-driven shutdowns to geopolitical instability and climate-related crises, volatility is the only certainty. Our findings make one thing clear: Businesses that embrace supply chain visibility, automation, and technology integration don’t just survive through these challenges—they thrive and come out ahead.”

Key takeaways from the Cleo 2025 Supply Chain Earnings Impact Report include:

• 2022 was the tipping point for supply chain volatility, with supply chain discussions appearing in 27% of earnings calls—a sharp increase from just 2% in 2019.
• From the onset of the pandemic, companies took four years on average to recover from its impact on their supply chains, with supply chain discussions declining to just 10% of earnings calls in 2024.
• Companies that prioritized agile supply chains and expanded their networks saw growth, with 51% of companies that experienced stock price increases specifically noting that having greater control over supplier onboarding was a critical success factor.
• Stock price recovery from supply chain disruptions took an average of 176 days, with one company taking 1,086 days to regain its stock value from before the reported disruption.
• 46% of supply chain laggards cited supply chain disruptions on their earnings calls, while 37% reported delays as major contributors to underperformance.
• Order backlogs were a defining factor between winners and losers—while 42% of companies with stock price declines cited backlogs as a challenge impacting earnings, 50% of supply chain winners leveraged backlogs as a strategic growth engine.

Rajasekharan continued, “As our report shows, the companies that thrived didn’t just react to disruptions—they prepared for them. The difference between winners and losers came down to proactive strategies: Companies that diversified their supply chains and invested in automation turned volatility into opportunity. These are critical learnings for companies to get ahead of the next major supply chain disruption.”

With the increasing frequency and complexity of supply chain disruptions, Cleo’s 2025 Supply Chain Earnings Impact Report reinforces the urgent need for enterprises to shift from reactive supply chain management to proactive supply chain orchestration. Companies must leverage ecosystem integration, automation, and AI-driven decision-making to maintain competitive advantage and sustained growth.

Download the Report

Cleo’s 2025 Supply Chain Earnings Impact Report is available online at no cost. To learn more about the latest trends impacting today’s manufacturing, logistics, technology, and retail supply chain companies, view the infographic or click here to access the full report.

About the Report

The report pulls from the top 100 companies in the Russell 2000 between $500M - $1B, within the industries of basic materials, consumer discretionary, consumer staples, industrials, and technology. In this report, Cleo analyzed content of over 1,000 earnings reports from the above companies from fiscal year 2019 through fiscal year 2025 that mentioned supply chain. The report identified key terms within the supply chain earnings reports and analyzed stock prices seven days before and seven days after their earnings to draw correlations from the stock price changes.

About Cleo Integration Cloud

Cleo Integration Cloud (CIC) is a cloud-based integration platform, purpose-built to design, build, operate, and optimize critical ecosystem integration processes. The CIC platform brings end-to-end integration visibility across API, MFT, EDI, and non-EDI integrations, giving technical and business users the confidence to rapidly onboard trading partners, enable integration between applications, and accelerate revenue-generating business processes. On the platform, businesses have the choice of self-service, managed services, or a blended approach – ensuring complete flexibility and control over their B2B integration strategy.

About Cleo

Cleo is an ecosystem integration software company focused on business outcomes, ensuring each customer’s potential is realized by delivering solutions that make it easy to discover and create value through the movement and integration of B2B enterprise data. Cleo gives customers strategic, “outside-in” visibility into the critical end-to-end business flows happening across their ecosystems of partners and customers, marketplaces, and internal cloud and on-premise applications. Our solutions empower teams to drive business agility, accelerate onboarding, facilitate the modernization of key business processes, and capture new revenue streams by reimagining and remastering their digital ecosystem through robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.

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