Trinity Industries (TRN) 8-K Regulation FD Disclosure

Trinity Industries, Inc.

May 2012

Exhibit 99.1

2

Forward Looking Statements

This

presentation

contains

“forward

looking

statements”

as

defined

by

the

Private Securities Litigation Reform Act of 1995 and includes statements as

to expectations, beliefs and future financial performance, or assumptions

underlying or concerning matters herein. These statements that are not

historical facts are forward looking. Readers 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.

Any forward looking statement speaks only as of the date on which such

statement is made. Trinity undertakes no obligation to update any forward

looking statement or statements to reflect events or circumstances after the

date on which such statement is made.

3

Agenda

I.

Overview

II.

Key Investment Considerations

III.

Strategy and Vision

IV.

Financial Highlights

V.

Appendix

$-

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

2005

2006

2007

2008

2009

2010

2011

LTM 3/12

Rail Group

Leasing

Barge

CPG

EEG

All Other

EPS, Continuing Ops

I. Trinity Industries, Inc. Overview

4

Trinity Industries, Inc. is a multi-industry

company that owns a variety of market-leading

businesses that provide products and services to

the industrial, energy, transportation, and

construction sectors

Trinity operates through five business segments:

Rail Group

Railcar Leasing and Management Services

Group (“Leasing”)

Inland Barge Group

Construction Products Group (“CPG”)

Energy Equipment Group (“EEG”)

The Company serves its customers through

manufacturing facilities located in the United

States and Mexico and had approximately 13,400

employees at the end of 2011

Total Revenue and EBITDA for the LTM 3/12 was

$3,366 million and $657 million, respectively

External

Revenue

by

Business

Group

(1)

1

Intersegment  Revenues are eliminated and Leasing Revenues include revenues

related to TRIP beginning in FY 2010

2

FY 2009 EPS excludes a $325 million pretax Goodwill impairment

(2)

II.  Key Investment Considerations

5

Leading Market

Positions

Diversified Portfolio

of Businesses

Flexible and        

Cost-Effective

Manufacturing

Seasoned Performers

Enrichment Value

Focused

Leading Market Positions

6

Diversified Portfolio of Businesses

Total Revenues = $2.7 B

Railcar Deliveries = 23.3 K

Total Revenues = $3.1 B

Railcar Deliveries = 14.1 K

60%

5%

21%

6%

8%

55%

14%

19%

4%

8%

Rail

Leasing

CPG

EEG

Barge

16%

30%

17%

3%

34%

Rail

Leasing

CPG

EEG

Barge

30%

18%

19%

15%

18%

Revenues

Revenues

Operating

Profit

(1)

Operating

Profit

(1)

Our diversified portfolio of businesses

produced a higher level of EPS on fewer

railcar deliveries during the latest recovery

(1) Operating Profit Excludes All Other, Corporate and is reduced by Leasing Interest Expense of $7 million in FY 2000 and $161 million in FY2011

(2) Rail percentage represents Operating Profit less all Intersegment Company Eliminations; Leasing percentage represents Operating Profit less Leasing Interest Expense

(3) FY 2009 EPS excludes a $325 million pretax Goodwill impairment

(1) Operating Profit Excludes All Other, Corporate and is reduced by Leasing Interest Expense of $7 million in FY 2000 and $161 million in FY2011

(2) Rail percentage represents Operating Profit less all Intersegment Company Eliminations; Leasing percentage represents Operating Profit less Leasing Interest Expense

(3) FY 2009 EPS excludes a $325 million pretax Goodwill impairment

(2)

(2)

(2)

(2)

0

5,000

10,000

15,000

20,000

25,000

30,000

-$2.00

-$1.00

$0.00

$1.00

$2.00

$3.00

$4.00

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

LTM

3/12

Calendar Year EPS vs. Railcar Deliveries

EPS, Continuing Ops

Railcar Deliveries

$

Units

(3)

PAST (FY 2000)

PRESENT (FY 2011)

MEASUREABLE PROGRESS

7

Flexible and Cost-Effective Manufacturing

8

Trinity's manufacturing

flexibility across product and

business segments enhances

our ability to opportunistically

respond to changes in market

demand

Trinity’s manufacturing scale,

vertical integration, and

presence in the Southern U.S.

and Mexico provides cost

effective benefits across

multiple business segments

Flexibility

Cost-Effective

Enrichment Value Focused

9

Rail

Leasing

Construction

Energy

Inland Barge

Customer

Sharing

Internal

Component

Sourcing

Shared Best

Manufacturing

Practices

Facility

Optimization

Centralized

Cost

Savings

Trinity focuses on

collaboration across

business segments…

…generating synergies

that enrich value and

ultimately provide

competitive benefits

10

Seasoned Performer Across Economic Cycles

Trinity is uniquely positioned to emerge from a severe down cycle with more

opportunity

for

growth

to

generate

significant

profits

during

an

up

cycle

Seasoned

management

team

knows

how

to

assess

the

market,

proactively

plan for cycles and address changes in economic conditions

Manufacturing

flexibility

is

a

core

competency,

and

when

combined

with

our

broad product offering

allows us to pursue a wide range of orders

Cost-effective

manufacturing

footprint

in

the

Southern

United

States

and

Mexico

is a competitive advantage for many of our product lines

Shared

synergies

across

business

lines

provide

unique

opportunities

Trinity’s

lease

fleet

of

approximately

70,000

railcars

(including

TRIP)

provides

a strong strategic connection to our customers, as well as a consistent

long-term stream of profit and cash flow

Strong

liquidity

position

of

approximately

$850

million

and

solid

balance

sheet

III. Strategy and Vision: Operational

11

Strategically Grow the Lease Fleet

Maximize Manufacturing Efficiency

Selectively Build our Backlogs

Diversify Through Organic Growth

Acquire Complementary Product

Portfolios

Be a premier, multi-industry growth

company that generates superior earnings

and returns for shareholders

Liquidity (at 3/31/12): ~ $850 mm

Strategy and Vision: Financial

12

Working Capital

Working Capital

Capital

Expenditures

Capital

Expenditures

Acquisitions

Acquisitions

Shareholder

Distributions

Shareholder

Distributions

Corporate

Debt

(1)

-

Convertible

Subordinated

Notes

-

$450

mm

Leasing

Debt

(2)

–

Recourse Debt:

Capital

lease

obligations/Term

loan

-

$102

mm

Non-recourse Debt:

TILC

Warehouse

borrowings

-

$283

mm

TILC

Long-term

financings

-

$1,293

mm

TRIP

Long-term

financings

-

$891

mm

(1) Excludes $96.8 mm of unamortized discount

(2) Total leasing financings of $2.6 billion, including TRIP; Leasing assets have a

net book value of $4.3 billion, including TRIP, which  leaves a significant

amount of unencumbered assets available for financing

Cash

and

Cash

Equivalents

-

$305

mm

Corporate

Revolver

Availability

-

$352

mm

TILC

Warehouse

Availability

-

$192

mm

Balance Sheet Debt (at 3/31/12): ~ $2,928 mm

Equity (at 3/31/12): ~ $2,004 mm

$295

$500

$658

$704

$462

$488

$616

$657

$0

$100

$200

$300

$400

$500

$600

$700

$800

2005

2006

2007

2008

2009

2010

2011

LTM

3/12

13

IV. Financial Highlights

Trinity’s

Earnings

Summary

FY

2005

–

LTM

3/31/12

(3)

LTM as of March 31, 2012

(1):

Revenues increased 44% from $2.3 billion to

$3.4 billion

Operating profit increased 50% from $197

million

to

$295

million

(2)

EBITDA increased 25% from $523 million to

$657 million

Earnings per common diluted share increased

90% from $1.12  to $2.13 per diluted share

Trinity’s

EBITDA

Summary

FY

2005

–

LTM

3/31/12

(6)

($mm)

(1)

Relative to LTM 3/31/11

(2)

Operating Profit includes Leasing Interest Expense

(3)

EPS from Continuing Operations

(4)

Excludes $325mm pre-tax impact of impairment of Goodwill

(5)

Beginning in FY 2010, TRIP Revenues and OP were consolidated with the Leasing Group

(6)

See Note in Appendix pg. 21 for Reconciliation of EBITDA

(1)

Relative to LTM 3/31/11

(2)

Operating Profit includes Leasing Interest Expense

(3)

EPS from Continuing Operations

(4)

Excludes $325mm pre-tax impact of impairment of Goodwill

(5)

Beginning in FY 2010, TRIP Revenues and OP were consolidated with the Leasing Group

(6)

See Note in Appendix pg. 21 for Reconciliation of EBITDA

(5)

(5)

(5)

(5)

(4)

(4)

$1.44

$2.72

$3.55

$3.47

$1.33

$0.85

$1.77

$2.13

$-

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

2005

2006

2007

2008

2009

2010

2011

LTM

3/12

Guidance and Outlook (As of April 26, 2012)

14

Any

forward-looking

statements

made

by

the

Company

speak

only

as

of

the

date

on

which

they

are

made.

The

Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking

statements, whether as a result of new information, subsequent events or otherwise.

Rail Group

Revenues ~ $500-525mm in Q2-2012

OP Margin ~ 9-11% in Q2-2012

Shipments ~ 19-20k in FY 2012

Leasing Group

Revenue Eliminations ~ $85-100mm in Q2-2012

EPS Elimination Impact ~ $0.05-0.07 in Q2-2012

Net Lease Fleet Additions ~ $300-350mm in FY 2012

Railcar Sales from Lease Fleet EPS Impact ~ $0.03-0.04 in Q2-2012

Railcar Sales from Lease Fleet EPS Impact ~ $0.12-0.14 in FY 2012

Barge Group

Revenues ~ $160-170mm in Q2-2012

OP Margin ~ 15-17% in Q2-2012

Total Company

EPS ~ $0.70-0.75 in Q2-2012

EPS ~ $2.55-2.70 in FY 2012

Manufacturing Capital Expenditures ~ $100-125mm in FY 2012

Appendix:

Operating Business Summaries

$1,816

$2,143

$2,382

$2,563

$895

$522

$1,275

$1,522

-4.0%

0.0%

4.0%

8.0%

12.0%

16.0%

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2005

2006

2007

2008

2009

2010

2011

LTM

3/12

Railcar Revenue

Parts & Components Revenue

OP Margin

16

Trinity delivered approximately 16,835 railcars

representing 30% of industry shipments during LTM

3/31/12

Trinity received orders for approximately 21,585 

railcars representing 33% of the industry total during

LTM 3/31/12

Trinity’s order backlog was approximately 27,245

railcars representing 45% of industry backlog as of

3/31/12

Rail Group

Leading manufacturer of railcars, railcar axles, and

coupling devices  in North America

Broadest product offering for railcar manufacturing in

North America

Networking of customers between railcar sales and

railcar leasing

Focus on new and advanced engineering designs

Centralized sourcing provides cost savings

Streamlined manufacturing efficiencies

Rail Group Highlights

Rail

Group

Historical

Revenues

and

OP

Margin

(1)

(1)

Before eliminations for Intersegment Sales to Leasing and Intercompany Profit

(2)

Excludes $325mm pretax charge for impairment of Goodwill

($mm)

(2)

(1) Sources: Historical data as reported per the Railway Supply Institute.  2012-2016 projections are an

average of estimates provided by Global Insight (02/12) and Economic Planning Associates, Inc. (04/12)

and  are provided as a point of reference.

Rail

30%

Total Revenue $3.1B

Projections

based

on

Third

Party

estimates(1)

Railcar

Deliveries

(1958

-

2016p)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

3/00

12/01

12/02

12/03

12/04

12/05

12/06

12/07

12/08

12/09

12/10

12/12

3/12

TILC

TRIP

$168

$215

$272

$314

$329

$461

$493

$500

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

$0

$100

$200

$300

$400

$500

$600

2005

2006

2007

2008

2009

2010

2011

LTM

3/12

TILC Revenue

TRIP Revenue

PBT Margin

17

Railcar Leasing & Management Services Group

Leading provider of comprehensive railcar leasing

and management services

Marketed with railcar sales activities as TrinityRail®

Single point of contact for equipment and services

Strengthens relationship with end-user of railcar

Scale of operations facilitates active participation in

secondary market activities for portfolio railcar

sales as market conditions warrant

Trinity Leasing’s capabilities provide the following advantages:

Strategic Position

Operating Benefits

Financial Results

Complements product offering (one-stop shopping)

Provides Trinity’s rail customers option to purchase or

lease

Facilitates ideal method for introduction of new

products

Assists in balancing and extending production lines

Minimizes administrative costs

Provides an important dashboard of metrics for

assessing railcar demand

Provides attractive cash return on investment

Minimizes the cyclicality of the company

Diversifies Trinity’s revenue and cash flow

Leasing Historical Revenues from Operations and PBT Margin

(1)

($mm)

(1) PBT  Margin calculated using Operating Profit from Leasing Operations less Leasing Interest Expense

(2) Beginning in FY 2010, TRIP Revenues and OP were consolidated

with the Leasing Group

(1) PBT  Margin calculated using Operating Profit from Leasing Operations less Leasing Interest Expense

(2) Beginning in FY 2010, TRIP Revenues and OP were consolidated

with the Leasing Group

Trinity’s Lease fleet has grown

at a 19% CAGR  since 2000

Trinity’s Lease fleet has grown

at a 19% CAGR  since 2000

(2)

Leasing

18%

Total Revenue $3.1B

$241

$371

$493

$625

$527

$422

$549

$580

0%

3%

6%

9%

12%

15%

18%

21%

24%

$-

$100

$200

$300

$400

$500

$600

$700

2005

2006

2007

2008

2009

2010

2011

LTM 3/12

Revenues

OP Margin

18

Revenues up 25.3% in LTM 3/31/12 vs. LTM 3/31/11

Profitability continues to be strong compared to historical

averages

for

this

business

-

Operating

Profit

margins

increased from 6.5% in FY 2005 to 16.5% during LTM

3/31/12

(3)

Backlog remained stable at $512mm at 3/31/12

Quickly recovered from 2 significant floods in Tennessee (in

2010) and Missouri (in 2011) that halted production levels for

a period of time and impacted financial results in certain

periods

Inland Barge Group

Tank Barges

Hopper Barges

Transports grain & coal

Transports liquids

($mm)

Leading manufacturer of barges that transport goods

along U.S. inland waterways

Largest U.S. manufacturer of fiberglass barge covers

Multiple barge manufacturing facilities on inland

waterways enable rapid delivery

Barge transportation has a cost advantage in high-cost

fuel environments

4,250 out of 17,996 hopper barges, or approximately 24%,

are 20+ years old

1,152 out of 3,084 tank barges, or approximately 37%, are

20+ years old

Over the past 10 years, 22% more barges were scrapped

vs.

built

(9,306

scrapped

vs.

7,630

built

from

2001

–

2011)

Leading manufacturer of barges that transport goods

along U.S. inland waterways

Largest U.S. manufacturer of fiberglass barge covers

Multiple barge manufacturing facilities on inland

waterways enable rapid delivery

Barge transportation has a cost advantage in high-cost

fuel environments

4,250 out of 17,996 hopper barges, or approximately 24%,

are 20+ years old

1,152 out of 3,084 tank barges, or approximately 37%, are

20+ years old

Over the past 10 years, 22% more barges were scrapped

vs.

built

(9,306

scrapped

vs.

7,630

built

from

2001

–

2011)

(1)

(1) OP Margin excludes a $5.1mm net gain as a result of flood damage to the Tennessee barge plant

(2) OP Margin excludes a $15.5 mm net gain as a result of flood damage to the Tennessee and Missouri barge plants

(3) OP Margin excludes a $18.9 mm net gain as a result of flood damage to the Tennessee and Missouri barge

plants, and the sale of leased barges

(1) OP Margin excludes a $5.1mm net gain as a result of flood damage to the Tennessee barge plant

(2) OP Margin excludes a $15.5 mm net gain as a result of flood damage to the Tennessee and Missouri barge plants

(3) OP Margin excludes a $18.9 mm net gain as a result of flood damage to the Tennessee and Missouri barge

plants, and the sale of leased barges

(2)

(3)

Barge

18%

Total Revenue $3.1B

Inland Barge Group Historical Revenues and OP Margin

Inland Barge Group Highlights

Replacement

demand

driver

(as

of

12/31/11):

$622

$695

$733

$741

$539

$579

$590

$612

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

$-

$100

$200

$300

$400

$500

$600

$700

$800

2005

2006

2007

2008

2009

2010

2011

LTM 3/12

Highway Products

Concrete & Aggregate

Other

OP Margin

19

Revenues increased 2.9% LTM 03/31/12 vs. LTM 3/31/11

Operating Profit increased 5.5% LTM 3/31/12 vs. LTM

3/31/11

Acquired Quixote Corporation in February 2010 which

increased Highway Products Revenue by 31% during the

year

Continued portfolio restructuring in 2011 through the

completion of several acquisitions, including the addition

of a custom galvanizing business and increased exposure

to Aggregates

Construction Products Group

Leading U.S. manufacturer of highway guardrail

and crash cushions; plus a line of proprietary

products including guardrail end treatments and

cable barrier guardrail systems

Leading Texas producer of concrete and

aggregates

Diversified exposure to commercial, residential,

industrial, and highway markets

Business has grown organically and through

acquisitions

Consistent contributor to Company cash flow

Demand tied to construction projects and federal

funding

($mm)

(1) OP Margin excludes a $3.8mm net gain as a result of the divestiture of the Asphalt business from within the

Concrete and Aggregates business

(1) OP Margin excludes a $3.8mm net gain as a result of the divestiture of the Asphalt business from within the

Concrete and Aggregates business

(1)

CPG

19%

Total Revenue $3.1B

Construction

Products

Group

Highlights

Construction

Products

Group

Historical

Revenues

and

OP

Margin

20

Structural

Wind

Towers:

Revenues of $232 million in LTM 3/31/12

Trinity’s

backlog

as

of

3/31/12

was

$885

million

(1)

Plants are strategically located along the central corridor where

the majority of wind farms are installed

Tank Containers:

Consistent and mature business

Recently launched the frac tank product to support oil & gas

exploration industry

Trinity has taken cost out of the business

–

Improved processes

–

Elimination of non-profitable products

–

Consolidated North American operations

Energy Equipment Group

Leading North American manufacturer of

structural wind tower business

Leading producer of propane tanks, tank

containers, and tank heads for pressure and non-

pressure vessels in North America

Low-cost manufacturer with primary tank

container production in Mexico facilities

Synergies among products across multiple Trinity

business groups

Energy Equipment Group Highlights

$235

$337

$434

$633

$510

$ 420

$473

$479

-2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

$-

$100

$200

$300

$400

$500

$600

$700

2005

2006

2007

2008

2009

2010

2011

LTM 3/12

Wind Tower Revenues

Other Revenues

OP Margin

Energy Equipment Group Historical Revenues & OP Margin

($mm)

(1) Approximately $413 million of this backlog is involved in litigation filed by the Company against one of our

structural wind tower customers for breach of a long-term supply contract for the manufacture of towers

EEG

15%

Total Revenue $3.1B

2005

2006

2007

2008

2009

2010

2011

LTM 3/12

Income (loss) from continuing operations

$110.5

$212.6

$289.8

$282.4

($137.7)

$75.4

$145.7

$172.4

Add:

     Interest expense

42.2

68.7

84.5

109.4

123.2

182.1

185.3

188.7

     Provision/(Benefit) for income taxes

65.6

131.3

165.1

171.4

(9.4)

40.9

91.8

101.2

     Depreciation & amortization expense

76.2

87.6

118.9

140.3

160.8

189.6

192.9

194.4

     Goodwill impairment

-

-

-

-

325.0

-

-

-

Earnings from continuing

     before interest expense, income

     taxes, and depreciation and

     amortization expense

$294.5

$500.2

$658.3

$703.5

$461.9

$488.0

$615.7

$656.7

Reconciliation of EBITDA

“EBITDA”

is defined as income (loss) from continuing operations plus interest expense, income taxes, and depreciation and amortization

including goodwill impairment charges. EBITDA is not a calculation based on generally accepted accounting principles. The amounts included

in the EBITDA calculation, 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 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 presentation may not always be comparable to similarly titled measures by other companies due to differences in the

components of the calculation.

(1) Includes results of operations related to TRIP starting January 1, 2010

“EBITDA”

is defined as income (loss) from continuing operations plus interest expense, income taxes, and depreciation and amortization

including goodwill impairment charges. EBITDA is not a calculation based on generally accepted accounting principles. The amounts included

in the EBITDA calculation, 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 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 presentation may not always be comparable to similarly titled measures by other companies due to differences in the

components of the calculation.

(1) Includes results of operations related to TRIP starting January 1, 2010

21

(1)

(1)

(1)

(1)

(1)

(1)