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CRANE Exhibit 99.1 Contact : Jason D. Feldman Vice President , Investor Relations 203-363-7329 www.craneco.com First Quarter 2021 Highlights Crane Co. Reports First Quarter 2021 Results and Raises 2021 EPS Guidance GAAP earnings per diluted share ( EPS ) of $ 1.84 . Excluding Special Items , EPS of $ 1.66 increased 44 % compared to $ 1.15 in the first quarter of 2020 . Raising GAAP EPS Guidance to $ 5.75- $ 5.95 , from $ 4.95- $ 5.15 . Raising EPS Guidance , excluding Special Items , to $ 5.65- $ 5.85 , from $ 5.00- $ 5.20 . STAMFORD , CONNECTICUT - May 3 , 2021 - Crane Co. ( NYSE : CR ) , a diversified manufacturer of highly engineered industrial products , reported first quarter 2021 financial results and updated its full - year 2021 outlook . Max Mitchell , Crane Co. President and Chief Executive Officer stated : " We delivered exceptionally strong results in the first quarter . Each of our three global strategic growth platforms delivered robust results ahead of expectations , with Crane Currency driving the most substantial outperformance in the quarter . Across all of our businesses and end markets , while uncertainty still exists , we continue to see strengthening underlying trends . In addition , we continue to drive growth above market rates through our consistent investment in technology and strategic growth initiatives . We are extremely well positioned to continue this outgrowth as end markets recover , and we expect strong operating leverage given our consistently solid execution . We look forward to providing additional details of our growth outlook specifically at Aerospace & Electronics during our upcoming May 26 virtual investor event . " " Considering our strong performance in the first quarter and improving market conditions , we are raising our adjusted EPS guidance by $ 0.65 to a range of $ 5.65- $ 5.85 reflecting a 50 % year - over - year increase in adjusted EPS . We have clear momentum from strengthening markets , as well as increasing traction with our growth initiatives , and I am confident that we are on a path to generate substantial and sustainable value for all of our stakeholders . " First Quarter 2021 Results First quarter 2021 GAAP earnings per diluted share ( EPS ) of $ 1.84 , compared to $ 1.05 in the first quarter of 2020. First quarter 2021 GAAP EPS included an $ 0.18 gain primarily related to the sale of real estate . Excluding Special Items , first quarter 2021 EPS was $ 1.66 , compared to $ 1.15 in the first quarter of 2020. ( Please see the attached Non - GAAP Financial Measures tables for a detailed reconciliation of reported results to adjusted measures . ) First quarter 2021 sales were $ 834 million , an increase of 5 % compared to the first quarter of 2020. The sales increase was comprised of a $ 25 million , or 3 % , benefit from favorable foreign exchange , a $ 5 million , or 1 % , increase in core sales , and a $ 5 million , or 1 % , benefit from an acquisition .