8-K

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of earliest event reported) October 18, 2005

                             WALTER INDUSTRIES, INC.
             (Exact name of registrant as specified in its charter)

           Delaware                      001-13711                13-3429953
(State or other jurisdiction of         (Commission            (IRS Employer
incorporation or organization)          File Number)         Identification No.)

     4211 W. Boy Scout Boulevard, Tampa, Florida                   33607
       (Address of principal executive offices)                  (Zip Code)

       Registrant's telephone number, including area code: (813) 871-4811

                                 NOT APPLICABLE
          (Former name or former address, if changed since last report)

Check the appropriate box below 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 240.13-4(c))

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ITEM 7.01    REGULATION FD DISCLOSURE

The following information is furnished pursuant to Item 7.01 "Regulation FD
Disclosure."

On October 18, 2005, Walter Industries, Inc., issued a press release providing
an update to its strategic planning. A copy of the Walter Industries, Inc. press
release is attached hereto as Exhibit 99.1.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

             (c)   Exhibits

                   99.1     Press Release dated October 18, 2005



                                   SIGNATURES

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.

                                          WALTER INDUSTRIES, INC.


                                          By:     /s/ Victor P. Patrick
                                                  ------------------------------
                                          Title:  Victor P. Patrick
                                                  Sr. Vice President,
                                                  General Counsel and Secretary

Date: October 19, 2005



Exhibit (99.1)     Press release dated October 18, 2005, Walter Industries to
                   Provide Strategic Update

EX-99.1

                                                                    Exhibit 99.1

                  WALTER INDUSTRIES TO PROVIDE STRATEGIC UPDATE

TAMPA, Fla., Oct. 18 /PRNewswire-FirstCall/ -- - As Walter Industries, Inc.
(NYSE: WLT) announced several months ago, Banc America Securities, LLC and
Morgan Stanley & Co., Incorporated are acting as financial advisors to assist
the Board in its strategic planning. Since that time, the Company has made
significant progress in evaluating and implementing strategies to further
maximize shareholder value. In mid September, the Company hired a new CEO with
extensive flow control industry experience and two weeks ago the Company closed
its acquisition of Mueller Water Products.

The Board will announce shortly additional initiatives to further maximize
shareholder value and will outline its plan of action.

Walter  Industries,  Inc. is a diversified  company with annual revenues of $2.7
billion. The Company is a leader in water infrastructure, flow control and water
transmission  products,  with respected brand names such as Mueller,  U.S. Pipe,
James  Jones,  Hersey  Meters,  Henry  Pratt and  Anvil.  The  Company is also a
significant  producer  of  high-quality  metallurgical  coal and natural gas for
worldwide  markets and is a leader in  affordable  homebuilding  and  financing.
Based in Tampa, Fla., the Company employs  approximately 10,600 people. For more
information  about  Walter  Industries,  please  visit the  Company  Web site at
http://www.walterind.com .

Safe Harbor Statement

Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
involve known and unknown risks and uncertainties that may cause the Company's
actual results in future periods to differ materially from forecasted results.
Those risks include, among others, changes in customers' demand for the
Company's products, changes in raw material, labor, equipment and transportation
costs and availability, geologic and weather conditions, changes in extraction
costs and pricing in the Company's mining operations, changes in customer
orders, pricing actions by the Company's competitors, changes in law, the
collection of approximately $14 million of receivables associated with a working
capital adjustment arising from the sale of a subsidiary in 2003, potential
changes in the mortgage-backed capital market, and general changes in economic
conditions. Those risks also include the timing of and ability to execute on any
strategic action that may be pursued. Risks associated with forward-looking
statements are more fully described in the Company's and Mueller's filings with
the Securities and Exchange Commission. The Company assumes no duty to update
its forward-looking statements as of any future date.