Trinity Industries (TRN) 8-K Trinity Industries Reports Strong Earnings Growth

Exhibit 99.2

First Quarter 2006 Results Conference Call
James E. Perry, Treasurer
May 4, 2006 — Final

Thank you, Holly.

Good morning from Dallas, Texas and welcome to the Trinity Industries’ First Quarter 2006 Results Conference Call. I’m James Perry, Treasurer for Trinity. Thank you for being with us today.

In addition to me, you will hear today from :

• Tim Wallace, Chairman, President and Chief Executive Officer

• Steve Menzies, Group President, Tank Car, Leasing and Services; and

• Bill McWhirter, Vice President and Chief Financial Officer

Following that, we’ll move to the Q&A session.

A replay of this conference call will be available starting one hour after the conference call ends today through midnight on Thursday, May 11th. The replay number is (402) 220-0116.

I would also like to welcome our audio web cast listeners today. Replay of this broadcast will also be available on our website located atwww.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, our borrowings at the corporate level were the 300 million dollars of senior notes and 3 million dollars of other indebtedness. The Leasing Company’s debt included the 119.8 million dollars of Equipment Trust Certificates and 347.5 million dollars outstanding under our railcar leasing warehouse facility. Our debt to total capital ratio was 38.6 percent, up from the comparable amount of 37 percent at December 31, 2005, principally due to lease fleet expansion.

At March 31st, our cash position was 93.6 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

Thank you, Holly. This concludes today’s conference call.

Remember, a replay of this call will be available starting one hour after this call ends today through midnight, Thursday, May 11th. The access number is (402) 220-0116. Also, this replay will be available on our website located atwww.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.