Trinity Industries, Inc. (Form: 8-K)

Investor Contact:
James Perry, Vice President and Treasurer
Trinity Industries, Inc.
214/589-8412

Trinity Industries, Inc. Reports Strong First Quarter Results and
Continued Growth in Rail Backlog

DALLAS – May 2, 2007 – Trinity Industries, Inc. (NYSE:TRN) today reported earnings from continuing operations of $59.1 million, or $0.74 per common diluted share for the first quarter ended March 31, 2007. Earnings from continuing operations for the same quarter of 2006 were $38.5 million, or $0.49 per common diluted share. Revenues for the first quarter of 2007 increased 14% to $828.5 million compared with revenues of $724.7 million for the same period in 2006.

Net income for the first quarter of 2007 increased 60% to $59.1 million, or $0.74 per common diluted share compared with net income of $37.0 million or $0.47 per common diluted share for the same quarter a year ago.

“I am pleased that our businesses continued their positive momentum,” said Timothy R. Wallace, Trinity’s Chairman, President, and CEO. “Several market trends combined with our focus on operational efficiencies and production flexibility continued to contribute to our revenue and earnings growth during the first quarter.”

The Rail Group (“TrinityRail”) received orders for approximately 8,500 railcars during the first quarter and shipped approximately 6,570 railcars. As of March 31, 2007, TrinityRail’s North American railcar order backlog totaled approximately 37,790 railcars, the highest in Company history. This backlog is approximately 12,250 railcars greater than TrinityRail’s backlog as of March 31, 2006 and 1,900 railcars greater than the backlog as of December 31, 2006.

Trinity’s railcar leasing business continued to grow during the first quarter. At March 31, 2007, Trinity Industries Leasing Company’s fleet totaled approximately 32,500 railcars. This compares to
approximately 26,000 railcars as of March 31, 2006. “We continue to invest in our railcar lease fleet which provides multiple benefits to the Company,” Wallace said.

“The Inland Barge Group achieved 33% revenue growth and a strong growth in profitability,” Wallace said. “Our Barge Group also grew its backlog to approximately $569 million as of March 31, 2007, enabling long-term production planning and operational efficiencies. Revenues in our Energy Equipment Group grew 34% as the structural wind tower business continued to expand. Our Construction Products Group’s revenues and profitability grew over the same quarter in 2006, despite challenging first quarter weather conditions. In summary, I am very pleased with the Company’s first quarter performance,” Wallace added.

Trinity Industries, Inc., headquartered in Dallas, Texas, is a holding company that owns a variety of market-leading businesses which provide products and services to the industrial, energy, transportation and construction sectors. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group and the Energy Equipment Group. For more information, visit: www.trin.net.

Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity’s estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements. Trinity uses the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” and similar expressions to identify these forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the most recent fiscal year.

Trinity Industries, Inc.
Condensed Consolidated Income Statements
(in millions, except per share amounts)


	Three Months Ended March 31,
	2007		2006
Revenues	$	828.5	$	724.7
Operating profit	$	108.7	$	75.6
Other expense		12.8		11.4

Income from continuing operations before income taxes		95.9		64.2
Provision for income taxes		36.8		25.7

Income from continuing operations		59.1		38.5
Discontinued operations:
Loss from discontinued operations, net of benefit for income taxes of $— and $(1.5)		—		(1.5	)

Net income	$	59.1	$	37.0

Net income per common share:
Basic:
Continuing operations	$	0.76	$	0.51
Discontinued operations		—		(0.02	)

	$	0.76	$	0.49

Diluted:
Continuing operations	$	0.74	$	0.49
Discontinued operations		—		(0.02	)

	$	0.74	$	0.47

Weighted average number of shares outstanding:
Basic		78.0		74.9
Diluted		79.9		78.8


	Three Months Ended
	March 31,
Revenues:	2007			2006
Rail Group	$	568.7		$	519.9
Construction Products Group		163.2			148.5
Inland Barge Group		108.7			82.0
Energy Equipment Group		91.4			68.0
Railcar Leasing and Management Services Group		70.9			56.3
All Other		15.6			11.4
Eliminations		(190.0	)		(161.4	)

Consolidated Total	$	828.5		$	724.7


	Three Months Ended
	March 31,
Operating profit (loss):	2007			2006
Rail Group	$	78.1		$	62.0
Construction Products Group		10.1			9.5
Inland Barge Group		17.4			6.6
Energy Equipment Group		10.1			11.1
Railcar Leasing and Management Services Group		27.8			17.6
All Other		1.3			(2.9	)
Corporate		(10.0	)		(9.8	)
Eliminations		(26.1	)		(18.5	)

Consolidated Total	$	108.7		$	75.6

Trinity Industries, Inc.
Condensed Consolidated Balance Sheets
(in millions)


	March 31,			December 31,
	2007			2006
Cash and cash equivalents	$	224.1		$	311.5
Receivables, net of allowance		279.0			252.5
Inventories		549.1			528.9
Net property, plant, and equipment (1)		1,746.6			1,590.3
Other assets		707.5			742.4

	$	3,506.3		$	3,425.6

Accounts payable and accrued liabilities	$	589.0		$	655.8
Debt (2)		1,251.4			1,198.9
Deferred income		42.3			42.9
Other liabilities		160.6			124.5
Stockholders’ equity		1,463.0			1,403.5

	$	3,506.3		$	3,425.6

(1) Property, Plant, and Equipment
Corporate/Manufacturing:
Property, plant, and equipment	$	959.8		$	943.1
Accumulated depreciation		(554.4	)		(564.6	)

		405.4			378.5

Leasing:
Equipment on lease		1,678.8			1,511.5
Machinery and other		35.1			35.1
Accumulated depreciation		(176.4	)		(163.9	)

		1,537.5			1,382.7

Deferred profit on railcars sold to the Leasing Group		(196.3	)		(170.9	)

	$	1,746.6		$	1,590.3

(2) Debt
Corporate/Manufacturing – Recourse:
Revolving commitment	$	—		$	—
Convertible subordinated notes		450.0			450.0
Senior notes		201.5			201.5
Other		1.6			1.8

		653.1			653.3
Leasing – Recourse:
Equipment trust certificates		75.7			119.1

Total recourse		728.8			772.4

Leasing – Non-recourse:
Secured railcar equipment notes		344.4			347.5
Warehouse facility		178.2			79.0

		522.6			426.5

	$	1,251.4		$	1,198.9

“EBITDA” is defined as net income (loss) plus income taxes, interest expense, and depreciation and amortization. EBITDA is not a calculation based on generally accepted accounting principles. The amounts included in the EBITDA calculations, however, are derived from amounts included in the historical statements of operations data. In addition, EBITDA should not be considered as an alternative to net income or operating income as an indicator of our operating performance, or as an alternative to operating cash flows as a measure of liquidity. We have reported EBITDA because we regularly review EBITDA as a measure of our ability to incur and service debt. In addition, we believe our debt holders utilize and analyze our EBITDA for similar purposes. We also believe EBITDA assists investors in comparing a company’s performance on a consistent basis without regard to depreciation and amortization, which can vary significantly depending upon many factors. However, the EBITDA measure presented in this press release may not always be comparable to similarly titled measures by other companies due to differences in the components of the calculation.


	Three Months Ended March 31,
	2007		2006
Income from continuing operations	$	59.1	$	38.5
Add:
Provision for income taxes		36.8		25.7
Depreciation and amortization expense		26.5		19.8
Interest expense		17.5		12.5

Earnings from continuing operations before interest expense, income taxes, and depreciation and amortization	$	139.9	$	96.5

First Quarter 2007 Results Conference Call
James E. Perry, Vice President and Treasurer
May 3, 2007 — FINAL

Thank you, Jimmy
Good morning from Dallas, Texas and welcome to the Trinity Industries’ First Quarter 2007 Results Conference Call. I’m James Perry, Vice President and Treasurer for Trinity. Thank you for being with us today.

•

Steve Menzies, Senior Vice President and Group President of the Rail Group; and

Also in the room today is Chas Michel, Vice President, Controller, and Chief Accounting Officer.

A replay of this conference call will be available starting one hour after the conference call ends today through midnight on Thursday, May 10th. The replay number is (402) 220-0428.

I would also like to welcome to our call our audio web cast listeners today. Replay of this broadcast will also be available on our website located at www.t-r-i-n.net.

Before we get started, let me remind you that:
“Today’s conference call contains forward looking statements as defined by the Private Securities Litigation Reform Act of 1995 and includes statements as to estimates, expectations, intentions and predictions of future financial performance. Statements that are not historical facts are forward looking. Participants are directed to Trinity’s Form 10-K and other SEC filings for a description of certain of the business issues and risks, a change in any of which could cause actual results or outcomes to differ materially from those expressed in the forward looking statements.”

At March 31st, 2007 our borrowings at the corporate level were the 450 million dollars of convertible subordinated notes, 201.5 million dollars of senior notes and 1.6 million dollars of other indebtedness. The Leasing Company’s debt included 344.4 million dollars of Secured Railcar Equipment Notes, 75.7 million dollars of Equipment Trust Certificates and 178.2 million dollars outstanding under our railcar leasing warehouse facility.

Our total debt to total capital ratio was 46 percent on March 31st, 2007, unchanged from our ratio at December 31st, 2006. Net of cash, our net debt to total capital ratio was 41 percent on March 31st, 2007, up from the comparable amount of 39 percent at December 31st, 2006. On March 31st, 2007, our cash position was 224.1 million dollars.

Now, here’s Tim Wallace.
Tim
Steve
Bill
Thanks, Bill. Now our operator will prepare us for the Q & A session.
Q & A Session

Remember, a replay of this call will be available starting one hour after this call ends today through midnight, Thursday, May 10th. The access number is (402) 220-0428. Also, this replay will be available on our website located at www.t-r-i-n.net.

We look forward to visiting with you again on our next conference call. Thank you for joining us this morning.

Trinity Industries, Inc.
Earnings Release Conference Call
Comments of Tim Wallace, Chairman, President and CEO
May 3, 2007
FINAL

I am pleased with our first quarter results. Trinity’s businesses are well positioned and should continue to benefit from several key market trends. These trends include the expansion of the renewable fuels market, the growth of the wind energy industry, highway infrastructure spending and replacement demand for railcars and barges. Our focus on operational excellence combined with our diverse product lines and manufacturing flexibility enables our businesses to pursue a broad spectrum of opportunities. This year we have a number of internal expansion initiatives taking place in addition to plant conversions which enhance our competitive positions. We are also on the lookout for acquisitions which potentially expand our core businesses.

Our Rail Group experienced a solid first quarter. The Rail group’s lst quarter railcar shipments were approximately 6570 units. We expect our 2007 shipments to be between 27,000 units and 28,000 units. Overall demand for railcars in North America was not as strong in the first quarter as it was in the 4th quarter last year. Steve Menzies will provide specific figures for orders and backlogs in his report.

By the end of the first quarter, our railcar backlog reached another record high. As many of you know, the demand for railcars is constantly shifting between various railcar types and is lumpy on a quarter-to-quarter basis. It is unrealistic to expect our backlog to continue to grow every quarter. During the past few quarters the product demand has fit nicely with our production mix. We continue to focus on production line continuity rather than specific market share goals.

Trinity’s barge business continues to perform well. Our barge backlog is growing and our customers continue to visit with us about opportunities for future business. We continue to make internal investments in our barge business in order to increase our barge production capacity and improve performance. Bill will provide specific figures on our backlog in his report.

Our construction products businesses are performing well despite less-than-ideal weather conditions during the first part of the year. Demand remains steady as we enter our busiest time of the year. During the first week of April, we acquired a company whose operations include concrete, aggregates and asphalt. We plan to prove out our competency in the asphalt business before we grow this business. We see long term potential to grow this business in select communities.

We are planning to exit the bridge steel product line at the end of this year. Five years ago, we sold our large bridge steel factory in Houston and leased it back for five years. We are in the last year of that lease. We recently converted our other bridge steel factory to railcar production. If we locate another bridge steel business or manufacturing facility that is ideally suited for the market, we will consider re-entering that product line.

Our structural wind towers business continues to grow. Demand for wind towers is strong. We expect our order backlog to continue to increase because our production facilities are ideally located in areas where wind farms are being planned. Our wind tower production capacity will be increased this summer when we finish converting an idle railcar factory in Clinton, Illinois. We will have a learning curve in our start-up at Clinton and it may take us several quarters to reach optimum production for this facility. We will have a better estimate of the timing at our next quarterly conference call. In addition, we are pursuing other options to increase our wind tower production capacity. We have a unique position in this market and expect our revenue and profits to continue to grow.

Trinity’s leasing business had a great first quarter. Demand for railcar leasing remains steady. Our railcar leasing company has been a growth business for us. We are in a position to provide railcars for sale or lease to a large customer base. Our railcar leasing personnel are highly focused on improving and expanding their services. Railcar Leasing and management services continue to be a key component of our on-going strategy. Steve will provide more details about this in his report.

As you can tell, I am pleased with the performance of our company and our unique position within the industries we serve. We have excellent market leadership positions and our backlogs are allowing us to focus resources on improvement and growth. We have a number of internal expansion activities in process. We expect our performance to continue to improve as we implement these initiatives. I remain optimistic about our opportunities for 2007 and beyond.

Trinity Industries, Inc
Analysts Conference Call
May 3, 2007
Comments by Steve Menzies

Trinity’s rail business continued to perform well during the 1^st quarter of 2007 as our railcar production levels and order backlog increased while operating margins continued to expand. The approximately 6,570 railcars we delivered in the 1^st quarter reflect an increase of 7% compared to the 1^st quarter 2006. Our operating margins improved 10% sequentially from the 4^th quarter.

Industry demand for railcars declined during the 1^st quarter of 2007. Approximately 11,500 railcars and autoracks were ordered as compared to over 17,000 railcars ordered during the 4^th quarter of 2006 and a quarterly average of approximately 23,000 railcars ordered during all of 2006. The reduced order level in the first quarter reflected continued softness in selected markets, such as intermodal and coal, and more normal levels of demand for tank cars and covered hoppers. As we have mentioned previously, railcar demand will shift periodically from car type to car type.

The railcar market continues to be driven by demand for tank cars and covered hoppers serving the renewable fuels and agricultural industries. Demand for these car types is also driven by the need to replace smaller, less efficient railcars. We believe the replacement cycle for an aging North American railcar fleet provides a basis for long term railcar demand to continue at high levels. Recent order inquiries support continued demand for tank cars, covered hoppers and autoracks.

In addition to monitoring railcar market demand, we closely evaluate demand for specific commodities, specific railcar types and changes in logistics that may impact railcar demand. With these market insights, we can then be prepared to either shift production or rationalize our railcar capacity to meet changing demand. For example, as a few ethanol plant construction delays have caused railcar deliveries to be postponed, we were able to shift production and sell the available production spaces in 2007 to other customers requiring different types of tank cars. In the case of coal, where we expect demand to improve in 2008, we may adjust production rates to more effectively manage production efficiencies and retain our highly valued, trained labor force.

Coal car demand has been soft pending completion of rail capacity expansion projects designed to improve system fluidity. One western railroad recently rescinded its moratorium on additional coal cars as some of the expansion projects reach completion. We are excited by the long-term opportunities in the coal market. The industry’s expansion of coal-fired generating facilities will fuel greater demand for coal. A number of current inquiries from utilities and coal companies point toward stronger coal car demand in 2008. That is when new generating capacity requiring increased coal supplies will begin to come on stream and railroad capacity expansion projects are expected to be completed.

To help meet the forecasted demand for coal cars, we are optimistic for the prospects of our new design, longitudinal gate system for rapid discharge aluminum coal hoppers, known as the RDL. We have received orders for this new design of coal car and are currently completing our first production units. The new design was developed in response to customer feedback seeking a coal car with increased productivity and improved operating reliability. The RDL is another example of Trinity’s ongoing commitment to product development and finding solutions to our customer’s challenges.

During the 1^st quarter of 2007, Trinity received approximately 8,500 railcar orders. Many of these orders will extend current production lines for a variety of railcars. Specifically, we received orders for covered hoppers for agricultural products and cement; coal cars, flat cars, autoracks and tank cars. Recent inquiry levels indicate further momentum for orders for railcars currently in production.

As a result of our 1^st quarter orders, Trinity’s railcar order backlog increased more than 5% from the 4^th quarter 2006 and approximately 48% from the 1^st quarter 2006. Our record order backlog as of March 31, 2007 totaled approximately 37,790 railcars.

We believe our production flexibility is one key reason Trinity’s railcar order backlog has continued to increase. We are pleased with the progress we’ve made to convert production lines at several facilities to meet the growing demand for tank cars. For example, we completed the conversion of our Saginaw, Texas facility to tank car production ahead of schedule during the first quarter, providing additional, available rail cars in a tight, near term tank car market. In addition, the expansion of our production at our facilities in Mexico has also progressed well. During 2007, we are increasing our production levels in Mexico 40% and expect to produce almost 13,000 railcars from our facilities in Mexico. Our growing production capabilities in Mexico positions Trinity to compete effectively in a dynamic railcar market. These successes are, in large part, due to our experienced production and supervisory personnel and established labor force combined with Trinity’s broad product line, proven railcar designs and production resources. The increases in our backlog are evidence of our ability to shift our production to meet changing market and customer requirements.

Trinity Industries Railcar Leasing and Management Services Group continued to grow its railcar fleet during the 1^st quarter. Trinity shipped approximately 2,000 new railcars to its Leasing Company during the 1^st quarter. This represents about 32% of Trinity’s 1^st quarter railcar shipments. This increases the size of our lease fleet to approximately 32,500 railcars compared to 26,000 at the end of the 1^st quarter 2006. The growth of our lease fleet will continue at a strong pace throughout 2007. We expect to ship approximately 50% of our total 2^nd quarter shipments to our leasing company. The investment in our leasing business helps us develop long term relationships with the end users of our railcars as well as to generate a significant, long-term, stable earnings stream that reduces Trinity’s susceptibility to market cycles.

Our committed lease backlog at the end of the 1^st quarter increased to approximately 22,800 railcars or 61% of Trinity’s railcar order backlog. This backlog extends into 2009 and has been instrumental in our long term production planning and in realizing current operating efficiencies. Our fleet remains highly utilized at well over 99% at the end of the 1^st quarter. The average age of the railcars in our lease fleet is 4.6 years and the average remaining lease term is approximately six years. Lease rates continue to rise as a result of high fleet utilization, strong levels of new car building and rising new car prices. Our renewal experience, measured by the number of leases renewed as a percentage of expiring leases, has been very high indicating strong demand for existing railcars. Our average fleet lease rate increased quarter over quarter reflecting a high number of lease renewals and steadily rising lease rates

In summary, we are pleased with the overall performance of our rail business. Our operational flexibility has allowed us to respond effectively to meet the changing demand among various railcar types resulting in our railcar order backlog growth. We continue to gain operating efficiencies through extended production runs favorably impacting operating margins. The growth of our leasing business has enabled us to meet the needs of our customers and effectively manage our production plans while enhancing the long term stability of Trinity. Our overall goal remains to maximize our returns by optimizing production capabilities and product mix. We believe we are uniquely positioned to pursue opportunities in the railcar market as demand changes and as our customers’ needs evolve.

Trinity Industries, Inc.
Earnings Release Conference Call
Comments of William McWhirter,
Senior Vice President and Chief Financial Officer
May 3, 2007

My comments relate primarily to the first quarter of 2007. We will file our Form 10-Q this morning. You will find more details there about our first quarter results. During my remarks, I will provide earnings per share guidance for the second quarter and the full year of 2007. Additionally, I will provide updated guidance with respect to operating margins in our Rail, Inland Barge and Energy Equipment groups.

For the first quarter of 2007, we reported earnings of 74 cents per diluted share from continuing operations. This compares with 49 cents per share from continuing operations in the same quarter of 2006. Revenues for the first quarter of 2007 increased 14% to $828 million over the same quarter last year.

Earnings from continuing operations exceeded the high end of our expectations by 8 cents per share. These positive results were primarily due to strong performances in our North American Rail operations, Railcar Leasing business and Inland Barge operations.

Revenues for this group increased 9% on a quarter-over-quarter basis. Rail Group sales to Trinity’s Leasing and Management Services Group were $172 million in the first quarter of 2007 with profits of $28.2 million or approximately 23 cents per diluted share. This compares with sales to our Leasing Group in the first quarter of 2006 of $148 million with profits of $18.5 million or 15 cents per diluted share. These inter-company sales and profits are eliminated in consolidation.

At this time, we anticipate margins for the Rail Group of between 12.5% and 13.5% for the second quarter.

Our Railcar backlog as of March 31, 2007 consisted of approximately 37,790 railcars, with an estimated sales value of $3.1 billion.

The Inland Barge Group’s first quarter performance was strong, posting revenues of $109 million and operating profit of $17.4 million. These figures reflect the strength of this group’s backlog which, as of March 31, 2007, totaled approximately $569 million. This compares with $327 million one year ago.

We anticipate Inland Barge revenues of between $110 and $120 million in the second quarter. Operating profit margins are expected to range between 14.5% and 15.5% during the quarter.

During the first quarter, we continued to experience some production issues and growth challenges, all typical of fast-growing operations. The result was operating profits of $10.1 million and an operating profit margin of 11.1%. Overall, we still expect margins for the group of between 13% and 15% for 2007. Revenues for the entire segment will be approximately $450 million for 2007, which represents a 34% improvement in revenue over last year.

Construction Products Group
Revenues for our Construction Products Group were up 10% when compared to the same quarter of the previous year. Operating profit was $10.1 million for the quarter, representing an improvement of 6%.

As Tim mentioned, we are exiting our bridge product line. In 2006 our bridge product line provided approximately $40 million in revenue. Our recent acquisition of Armor Materials should replace the revenue for this segment
.

Leasing and Management Services Group
Our Railcar Leasing and Management Services Group reported revenues of $70.9 million compared with $56.3 million in the same quarter of the previous year. Operating profit increased by 58% to $27.8 million, due to additions to the fleet and increased lease rates. Car sales from the fleet were $8.3 million during the quarter, which is consistent with the first quarter of the prior year. For 2007, we anticipate between $750 and $850 million in net fleet additions. This represents a change from our previous projection of $650 to $750 million in net fleet additions. The increase is a result of additional originations by our Leasing Company during the first quarter, coupled with our desire to add more cars to our fleet. This potential additional investment would result in increased deferred profits. I will speak more on this matter in my guidance remarks. It is clear that the investments we are making in this business are providing long-term paybacks, significant growth and diversification of earnings.

For 2007, we expect non-leasing capital expenditures of between $170 and $190 million. This represents an increase of $30 million since our last projection. The increase is primarily due to our decision to invest in a windtower facility in Mexico. This new facility should generate revenue beginning in 2008.

During the second quarter, we will defer approximately $325 million in revenue and between $44 and $49 million in operating profits as we grow our Leasing business. This represents between 36 and 40 cents per diluted share. This amount is a significant commitment to our leasing strategy and will impact our second quarter earnings to some degree.

We anticipate earnings from continuing operations for the second quarter to range between 68 and 73 cents per diluted share.

Our previous guidance for 2007 remains unchanged at earnings per share of between $3.00 and $3.15 for the full year on a fully diluted basis. Included in our assumptions for 2007 are:

•

the elimination of between $110 and $125 million in profit for railcars sold to our Leasing Company, or approximately 89 cents to $1.01 per share. It should be noted, that deferred profit could increase further if the strong demand for leased cars continues and/or we elect to retain more leased railcars on our balance sheet. Our current financial models suggest a potential 17 cent impact to 2007 earnings if we elect to take net fleet additions to $1 billion for the year.

During our second quarter call, I will provide an update on our estimates for deferred profits.

In our earnings release yesterday, we provided a reconciliation of the non-GAAP term EBITDA. EBITDA from continuing operations for the first quarter of 2007 was approximately $140 million as compared to $97 million in the same quarter last year.

At this time I will turn the presentation back to James for the question and answer session.


Delaware	1-6903	75-0225040
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)

2525 Stemmons Freeway, Dallas, Texas		75207-2401
_________________________________ (Address of principal executive offices)		___________ (Zip Code)


	Trinity Industries, Inc.

May 3, 2007	By:	William A. McWhirter II

		Name: William A. McWhirter II
		Title: Senior Vice President and Chief Financial Officer


Exhibit No.		Description

99.1		News Release dated May 2, 2007 with respect to the operating results for the three months ended March 31, 2007.
99.2		Conference call script of May 3, 2007 for James E. Perry, Vice President and Treasurer.
99.3		Conference call script of May 3, 2007 for Timothy R. Wallace, Chairman, President, and Chief Executive Officer.
99.4		Conference call script of May 3, 2007 for D. Stephen Menzies, Senior Vice President and Group President of the Rail Group.
99.5		Conference call script of May 3, 2007 for William A. McWhirter II, Senior Vice President and Chief Financial Officer.


Date of Report (Date of Earliest Event Reported):		May 2, 2007


Registrant’s telephone number, including area code:		214-631-4420