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