8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report: May 9, 2006
(Date of earliest event reported)

LAIDLAW INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Delaware	000-13109	98-0390488
(State of	(Commission File Number)	(IRS Employer
Incorporation)		Identification No.)

55 Shuman Boulevard, Suite 400
Naperville, Illinois 60563
(Address of principal executive offices, including zip code)

(630) 848-3000
(Registrant’s telephone number, including area code)

     Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Presentation

Item 7.01 Regulation FD Disclosure

On May 9, 2006, Doug Carty, Executive Vice President and Chief Financial Officer of Laidlaw International, Inc. will present a review of the Company’s strategic initiatives and financial condition at the Bear Stearns Global Transportation Conference. The visual presentation is attached as an exhibit to this Form 8-K and is also available on the Company’s website at http://www.laidlaw.com.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

99.1 May 9, 2006 Presentation.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: May 9, 2006

LAIDLAW INTERNATIONAL, INC.
By:	/s/ Jeffrey W. Sanders
	Name:	Jeffrey W. Sanders
	Title: Vice President, Corporate Development and Controller

Exhibit Index

Exhibit No.	Description
99.1	May 9, 2006 Presentation.

EX-99.1

Douglas Carty, EVP and CFO

Bear Stearns Global Transportation Conference May 9, 2006

Forward-Looking Statement

The following presentation may contain forward-looking statements. Although such statements reflect our current reasonable judgment regarding the direction of our business, actual results may differ materially from those projected here. We undertake no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise. You can find information on the risk factors concerning why the actual results might differ from statements made today in our documents filed with the Securities and Exchange Commission.

Portfolio of Transportation Companies
• Unique bus company

– 55% contractual – 45% consumer • Divested of non-bus company subsidiaries – Paid down debt with proceeds • Realized significant profitability improvement despite fuel costs – Resuming growth focus • Returning cash to shareholders – Purchased $85 mm of stock in ‘05 – Initiated quarterly dividend in ‘05, $0.60 per share annualized – Started $200 mm share buyback in Jan. ‘06

Financials
(presented on a continuing operations basis)

Income statement 6 Mos.YTD ($ in millions, except EPS) 2003 2004 2005 ’05 ’06

Revenue $2,987 $3,027 $3,027 $1,577 $1,636

(1) EBITDA $ 360 $ 374 $ 414 $ 243 $ 278

% rev 12.0% 12.3% 13.7% 15.4% 17.0% EPS (cont.ops) $ 1.14 $ 0.45 $(0.06) $ 0.44 $ 0.96

CapEx, net $ 251 $ 169 $ 152

Education Service
Safely transporting two million children to and from school each day.

Overview

Operate 40k buses

– 27% market share outsourced
– 500+k buses in North America

Revenue is contractual and

renewable
Initiatives Underway

Targeting margin expansion of

300 to 400 bps from F2003

Rationalizing underperforming

contracts

Using scale and technology to

lower costs
Education Services Revenue / EBITDA millions) 18.4%

Greyhound
A Great American Icon.

Overview

Only national network of inter-city bus

transportation services

Providing convenient and affordable

scheduled transportation services
Initiatives Underway

Completed network changes

– 21% reduction in miles to date
– 26% reduction in buses

Focused on pricing initiatives
Grow penetration of current key

demographic groups

Refreshing the brand

Public Transit Service

Serving nearly 50 million passengers annually Overview

Contracts with municipal

transit authorities for paratransit and fixed route service

Low capital requirements

Initiatives Underway

Focusing on:

– Contract growth Cost drivers .

Summary

Focused transportation company

– more than 55% of revenue is contractual and renewable

Clear profitability improvement initiatives at all

companies

Very strong balance sheet

Committed to delivering value to shareholders

APPendix

Reconciliation of Non-GAAP Financial Measures ( $ in millions)

Year 6 Mos. YTD 2003 2004 2005 2005 2006

EBITDA 360 374 414 243 278

Depreciation and amortization (235) (231) (249) (133) (116)

Interest expense (38) (79) (71) (39) (11)

Debt restructuring costs (112)

Other income (expense), net (20) 2 10 5 4

Gain on discharge of debt 1,483

Fresh start accounting adjustments (548)

Income tax benefit (expense) 8 (20) 2 (30) (59)

Cumulative effect of change in accounting principle (637)

Income (loss) from continuing operations 373 46 (6) 46 96

EBITDA is presented solely as a supplemental disclosure with respect to liquidity because the company believes it provides useful information regarding its ability to service or incur debt. EBITDA is not calculated the same way by all companies. We define EBITDA as operating income plus depreciation and amortization. EBITDA is not intended to represent cash flow for the period, is not presented as an alternative to operating income as an indicator of operating performance, should not be considered in isolation or as a substitute for measures of performance prepared in accordance with generally accepted accounting principles (“GAAP”) and is not indicative of operating income or cash flow from operations as

determined under GAAP.