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Quanta Services (PWR) Stock Falling on Preliminary Third Quarter Results

NEW YORK (TheStreet) -- Shares of Quanta Services (PWR - Get Report) are down by 10.13% to $23.55 in pre-market trading on Friday morning, after the specialty contracting services company announced its preliminary third quarter financial results and warned that profit will come in below its previous forecast.

Quanta Services believes that revenue for the period will come in slightly below the midpoint range of its $1.9 billion to $2 billion expectations.

Diluted earnings per share from continuing operations is anticipated to be between 22 cents and 24 cents per share. Previously, the company had forecast earnings between 34 cents and 40 cents per share.

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"While we are disappointed in our performance, we consider 2015 to be a transition year and are committed to achieving segment operating margins consistent with our previous expectations," company CEO...