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Lowe’s<\/a> on Wednesday reported mixed quarterly results as the home improvement retailer said it saw “pressure” in spending on projects.<\/p>\n Though the company did not cut its full-year guidance, it updated its outlook to the bottom end of its prior guidance. It now expects total sales of $92 billion, compared with $92 billion to $94 billion previously, and comparable sales to be flat, versus flat to up 2%. It expects adjusted earnings per share for the year of $12.25, versus $12.25 to $12.75 previously.<\/p>\n Shares of Lowe’s fell more than 3% in premarket trading.<\/p>\n Here’s how the company performed in its fiscal second quarter compared with what Wall Street was expecting, according to a survey of analysts by LSEG:<\/p>\n Earnings per share: $4.40 adjusted, it was not immediately clear if it was comparable to the $4.22 expectedRevenue: $25.96 billion vs. $26.16 billion expected<\/p>\n For the quarter ended July 31, Lowe’s reported net income of $2.4 billion, or $4.27 per share, roughly the same as the year-ago period. Excluding one-time factors and including tariff refund benefits, the company reported adjusted earnings of $4.40 per share. <\/p>\n Lowe’s also said tariff refunds provided an 11-cent boost to its earnings per share this quarter. <\/p>\n The company reported total sales of $25.96 billion for the quarter, up from $23.96 billion the year prior. Comparable sales rose 0.2%, due in part to strong performance in its pro and home services sales, according to Lowe’s.<\/p>\n Lowe’s also saw a 15.7% increase in online sales, though it added that performance was partially offset by macroeconomic pressures for the do-it-yourself customers.<\/p>\n “While the near-term remains dynamic, our teams are executing at a high level, advancing our Total Home strategy and investing to drive growth and profitability,” CEO Marvin Ellison said in a statement.<\/p>\n The earnings come as the home improvement retailer grapples with a slower housing market and a more cautious consumer. <\/p>\n Lowe’s rival Home Depot<\/a> said in its earnings<\/a> report on Tuesday that the company did not see customers returning to big projects and continues to operate in “frozen housing market conditions.”<\/p>\n