Home Depot and Lowe’s are competing for the more consistent spending of professional building and repair companies, particularly as consumers delay large remodels and do-it-yourself projects, analysts say.

Lowe's beat quarterly earnings expectations on Wednesday. The home improvement retailer also announced the $8.8 billion acquisition of Foundation Building Materials, its second acquisition of a home professional-focused company in recent months.

Lowe's Tops Quarterly Earnings, Acquires Home Pros Business In $8.8 Billion Deal

Home Depot affirmed its full-year growth outlook for adjusted earnings per share to decline approximately 2%, for total sales to increase by about 2.8% and for comparable-sales growth of about 1%. Home Depot expects to open approximately 13 new stores during the year, in line with its prior guidance.

Home Depot kept its annual forecasts intact despite posting muted quarterly results on Tuesday, but said some products may see small price hikes due to tariffs after previously suggesting they would generally not change.