The North End boss admitted that the game was lost in the first forty-five minutes, former fans favourite David Healy bagging a brace for the visitors on his first return to Deepdale since his move to Elland Road at the end of last month.
"We didn't turn up. They played at a much higher tempo than we did," Davies said.
"No-one got close enough, we were not moving the ball crisply enough. The first half was a big let down to everyone and at half time I wondered what was going on.
"We know the squad needs to be firmed up. There is a lot more work to be done.
"I hope to bring in some new faces."