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CRANE Exhibit 99.1 Contact : Jason D. Feldman Vice President , Investor Relations 203-363-7329 www.craneco.com Crane Co. Reports Second Quarter 2021 Results and Raises 2021 EPS Guidance Second Quarter 2021 Highlights GAAP earnings from continuing operations per diluted share ( EPS ) of $ 1.87 compared to $ 0.23 in the second quarter of 2020 . Excluding Special Items , record EPS from continuing operations of $ 1.83 increased 205 % compared to $ 0.60 in the second quarter of 2020 . Core year - over - year sales growth of 19 % and core year - over - year order growth of 45 % . Raising GAAP EPS from continuing operations guidance to $ 6.05- $ 6.25 , from $ 5.75- $ 5.95 . Raising EPS from continuing operations guidance , excluding Special Items , to $ 5.95- $ 6.15 , from $ 5.65- $ 5.85 . STAMFORD , CONNECTICUT - July 26 , 2021 - Crane Co. ( NYSE : CR ) , a diversified manufacturer of highly engineered industrial products , reported second quarter 2021 financial results and updated its full - year 2021 outlook . Max Mitchell , Crane Co. President and Chief Executive Officer stated : " We delivered another quarter of exceptionally strong results with record adjusted operating margins of 17.6 % and record adjusted EPS . All three of our strategic growth platforms continue to perform extremely well , and we continue to see strengthening underlying trends in our primary end markets as reflected in our core year - over - year order growth of 45 % and core year - over - year backlog growth of 7 % . " " Considering our strong performance in the second quarter and our outlook for the balance of the year , we are raising our adjusted EPS from continuing operations guidance by $ 0.30 to a range of $ 5.95- $ 6.15 reflecting an approximate 70 % year - over - year increase . The midpoint of our guidance range is also above our prior - peak 2019 total adjusted EPS of $ 6.02 despite Engineered Materials ' current classification as discontinued operations , and with the majority of our end markets in the very early stages of recovery and still well below pre - COVID levels . We are also continuing our substantial investments in technology and strategic growth initiatives positioning us for continued outgrowth through the post - COVID recovery , and we expect strong operating leverage given our consistently solid execution . I am confident that we remain on a path to generate substantial and sustainable value for all of our stakeholders by continuing to drive above - market growth , paired with ongoing active portfolio management . ” Second Quarter 2021 Results from Continuing Operations Second quarter 2021 GAAP earnings from continuing operations per diluted share ( EPS ) of $ 1.87 , compared to $ 0.23 in the second quarter of 2020. Excluding Special Items , second quarter 2021 EPS from continuing operations was $ 1.83 , compared to $ 0.60 in the second quarter of 2020. Both GAAP and Adjusted EPS from continuing operations in the second quarter of 2021 included an excess tax benefit of approximately $ 4 million , or $ 0.07 per share , related to stock